tag:blogger.com,1999:blog-52979107397204626392024-03-15T18:09:58.799-07:00Intelsense Capital BlogUnknownnoreply@blogger.comBlogger577125tag:blogger.com,1999:blog-5297910739720462639.post-80701345037951975792023-07-30T22:48:00.006-07:002023-07-30T22:48:57.389-07:00New blog link - https://intelsense.substack.com<p>Please click on <a href="https://intelsense.substack.com">https://intelsense.substack.com</a> for our blog articles.</p>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-5297910739720462639.post-70362631636808198842023-07-02T23:01:00.002-07:002023-07-02T23:01:30.893-07:00Quant@Intelsense<p><span style="background-color: white; color: #404040;"></span></p><div class="separator" style="clear: both; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhX4SqX4q7iho3p2bnJvFT9jWrA-5tagyUyS7cra8gYNNwx35mtj_en0t0VTA0tq-TCyWhdvUSJxcOfDknLniQI_x8nF_iBrrsPtMpmWcx6-ZyfXLUvgH5Hzu1Nnb6Hxqp3evezOSMUL4iBuie2idSfk5RVEAEQxWYI_3DCZN8Mm720d7_yVeAxa4LYxIDy/s1600/Quant@Intelsense.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="900" data-original-width="1600" height="180" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhX4SqX4q7iho3p2bnJvFT9jWrA-5tagyUyS7cra8gYNNwx35mtj_en0t0VTA0tq-TCyWhdvUSJxcOfDknLniQI_x8nF_iBrrsPtMpmWcx6-ZyfXLUvgH5Hzu1Nnb6Hxqp3evezOSMUL4iBuie2idSfk5RVEAEQxWYI_3DCZN8Mm720d7_yVeAxa4LYxIDy/s320/Quant@Intelsense.png" width="320" /></a></div><br /><span style="font-family: verdana;">One of my main interests over the last five years has been in quantitative investing. The main trigger for it came to be because I could feel that a lot of investment outcomes are dependent on the whimsical nature of human psychology, so a better way to address this problem is to be able to codify some rules for investing. This approach has helped me immensely in my discretionary long-term investing as well.</span><p></p><span style="font-family: verdana;">So, starting this month we are going to publish a quant newsletter. We will try to make it monthly (at least that is what we have thought for now). It will be only and only focused on quantitative investing concepts, stuff that we are reading and the state of the markets.</span><h3 class="header-with-anchor-widget" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; -webkit-font-smoothing: antialiased; background-color: white; color: #404040; font-weight: var(--font_weight_headings_preset, bold); line-height: 1.16em; margin: 1em 0px 0.625em; position: relative;"><strong style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;"><span style="font-family: verdana; font-size: small;">State of the Markets</span></strong><div class="header-anchor-widget offset-top" id="§state-of-the-markets" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; height: 30.3px; left: -56px; position: absolute; top: -72px; width: 56px;"><div class="header-anchor-widget-button-container" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; display: flex; height: 1.2em; left: 0px; position: absolute; top: 72px; width: 40px;"><div class="header-anchor-widget-button" href="https://intelsense.substack.com/i/132274239/state-of-the-markets" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; border-radius: 50%; cursor: pointer; display: flex; height: 40px; justify-content: center; opacity: 0; width: 40px;"><svg class="header-anchor-widget-icon" fill="none" height="20" stroke-linecap="round" stroke-linejoin="round" stroke-width="2" stroke="currentColor" viewbox="0 0 24 24" width="20" xmlns="http://www.w3.org/2000/svg"></svg><span style="font-family: verdana;"><path d="M10 13a5 5 0 0 0 7.54.54l3-3a5 5 0 0 0-7.07-7.07l-1.72 1.71"></path><path d="M14 11a5 5 0 0 0-7.54-.54l-3 3a5 5 0 0 0 7.07 7.07l1.71-1.71"></path></span></div></div></div></h3><h5 style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; -webkit-font-smoothing: antialiased; background-color: white; color: #404040; font-weight: var(--font_weight_headings_preset, bold); line-height: 1.16em; margin: 1em 0px 0.625em;"><span style="font-family: verdana; font-size: small;">Note: Why do we need to understand the state of the markets?</span></h5><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><span style="font-family: verdana;">The state of the markets is like the “pitch” in a test match. The captain needs to read the pitch and then decide on the playing eleven. For example, if it is a turning wicket, you may wish to play an additional spinner. Similarly, based on the state of the market, you might wish to change your allocations or stock selection.</span></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><span style="font-family: verdana;"><br /></span></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><span style="font-family: verdana;">One of the ways in which market health can be measured objectively is by monitoring the market breadth. It is purely data-based, unbiased and objective. Like any other indicator, it needs to be evaluated in sync with many other factors together and never in isolation. However, it is a good metric to keep track of. As of now market breadth is strong.</span></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><span style="font-family: verdana;"><br /></span></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><span style="font-family: verdana;">No of stocks hitting new 52 weeks highs is much higher than no of stocks hitting new 52-week lows (Universe Nifty 500).</span></p><div class="captioned-image-container" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; margin: var(--size-32) auto;"><figure style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; margin: 0px auto; width: 728px;"><a class="image-link is-viewable-img image2" data-component-name="Image2ToDOM" href="https://substackcdn.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F6777a334-37d7-4753-ab83-2ff4440d376e_1047x323.png" rel="" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; border: 0px; cursor: zoom-in; display: flex; flex-direction: column; height: auto; margin: 0px auto; padding: 0px; position: relative; text-decoration-line: none; width: auto;" target="_blank"><div class="image2-inset" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; display: flex; position: relative;"><picture style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;"><span style="font-family: verdana;"><source sizes="100vw" srcset="https://substackcdn.com/image/fetch/w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F6777a334-37d7-4753-ab83-2ff4440d376e_1047x323.png 424w, https://substackcdn.com/image/fetch/w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F6777a334-37d7-4753-ab83-2ff4440d376e_1047x323.png 848w, https://substackcdn.com/image/fetch/w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F6777a334-37d7-4753-ab83-2ff4440d376e_1047x323.png 1272w, https://substackcdn.com/image/fetch/w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F6777a334-37d7-4753-ab83-2ff4440d376e_1047x323.png 1456w" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;" type="image/webp"></source></span><img alt="" class="sizing-normal" data-attrs="{"src":"https://substack-post-media.s3.amazonaws.com/public/images/6777a334-37d7-4753-ab83-2ff4440d376e_1047x323.png","fullscreen":null,"imageSize":null,"height":323,"width":1047,"resizeWidth":null,"bytes":53034,"alt":null,"title":null,"type":"image/png","href":null,"belowTheFold":false,"topImage":false,"internalRedirect":null}" height="323" sizes="100vw" src="https://substackcdn.com/image/fetch/w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F6777a334-37d7-4753-ab83-2ff4440d376e_1047x323.png" srcset="https://substackcdn.com/image/fetch/w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F6777a334-37d7-4753-ab83-2ff4440d376e_1047x323.png 424w, https://substackcdn.com/image/fetch/w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F6777a334-37d7-4753-ab83-2ff4440d376e_1047x323.png 848w, https://substackcdn.com/image/fetch/w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F6777a334-37d7-4753-ab83-2ff4440d376e_1047x323.png 1272w, https://substackcdn.com/image/fetch/w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F6777a334-37d7-4753-ab83-2ff4440d376e_1047x323.png 1456w" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; display: block; height: auto; margin: 0px auto; max-width: 100%;" width="1047" /></picture><div class="image-link-expand" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; background: var(--color-bg-modal); border-radius: 4px; cursor: pointer; display: flex; height: var(--size-32); justify-content: center; opacity: 0; position: absolute; right: var(--size-12); top: var(--size-12); transition: all var(--animation-timing-fast) var(--animation-smoothing); width: var(--size-32);"><svg class="lucide lucide-maximize2" fill="none" height="16" stroke-linecap="round" stroke-linejoin="round" stroke-width="2" stroke="#FFFFFF" viewbox="0 0 24 24" width="16" xmlns="http://www.w3.org/2000/svg"></svg><span style="font-family: verdana;"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></span></div></div></a></figure></div><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><span style="font-family: verdana;"><br /></span></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><span style="font-family: verdana;">Therefore the net new 52 highs and lows are strongly positive. (Universe Nifty 500).</span></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><span style="font-family: verdana;"><br /></span></p><div class="captioned-image-container" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; margin: var(--size-32) auto;"><figure style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; margin: 0px auto; width: 728px;"><a class="image-link is-viewable-img image2" data-component-name="Image2ToDOM" href="https://substackcdn.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F2a3139aa-cd31-4685-a152-0f78a4ea593d_1047x317.png" rel="" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; border: 0px; cursor: zoom-in; display: flex; flex-direction: column; height: auto; margin: 0px auto; padding: 0px; position: relative; text-decoration-line: none; width: auto;" target="_blank"><div class="image2-inset" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; display: flex; position: relative;"><picture style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;"><span style="font-family: verdana;"><source sizes="100vw" srcset="https://substackcdn.com/image/fetch/w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F2a3139aa-cd31-4685-a152-0f78a4ea593d_1047x317.png 424w, https://substackcdn.com/image/fetch/w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F2a3139aa-cd31-4685-a152-0f78a4ea593d_1047x317.png 848w, https://substackcdn.com/image/fetch/w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F2a3139aa-cd31-4685-a152-0f78a4ea593d_1047x317.png 1272w, https://substackcdn.com/image/fetch/w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F2a3139aa-cd31-4685-a152-0f78a4ea593d_1047x317.png 1456w" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;" type="image/webp"></source></span><img alt="" class="sizing-normal" data-attrs="{"src":"https://substack-post-media.s3.amazonaws.com/public/images/2a3139aa-cd31-4685-a152-0f78a4ea593d_1047x317.png","fullscreen":null,"imageSize":null,"height":317,"width":1047,"resizeWidth":null,"bytes":38105,"alt":null,"title":null,"type":"image/png","href":null,"belowTheFold":true,"topImage":false,"internalRedirect":null}" height="317" loading="lazy" sizes="100vw" src="https://substackcdn.com/image/fetch/w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F2a3139aa-cd31-4685-a152-0f78a4ea593d_1047x317.png" srcset="https://substackcdn.com/image/fetch/w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F2a3139aa-cd31-4685-a152-0f78a4ea593d_1047x317.png 424w, https://substackcdn.com/image/fetch/w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F2a3139aa-cd31-4685-a152-0f78a4ea593d_1047x317.png 848w, https://substackcdn.com/image/fetch/w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F2a3139aa-cd31-4685-a152-0f78a4ea593d_1047x317.png 1272w, https://substackcdn.com/image/fetch/w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F2a3139aa-cd31-4685-a152-0f78a4ea593d_1047x317.png 1456w" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; display: block; height: auto; margin: 0px auto; max-width: 100%;" width="1047" /></picture><div class="image-link-expand" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; background: var(--color-bg-modal); border-radius: 4px; cursor: pointer; display: flex; height: var(--size-32); justify-content: center; opacity: 0; position: absolute; right: var(--size-12); top: var(--size-12); transition: all var(--animation-timing-fast) var(--animation-smoothing); width: var(--size-32);"><svg class="lucide lucide-maximize2" fill="none" height="16" stroke-linecap="round" stroke-linejoin="round" stroke-width="2" stroke="#FFFFFF" viewbox="0 0 24 24" width="16" xmlns="http://www.w3.org/2000/svg"></svg><span style="font-family: verdana;"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></span></div></div></a></figure></div><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><span style="font-family: verdana;"><br /></span></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><span style="font-family: verdana;">% of Nifty 500 stocks above key long-term moving averages is also signifying strength.</span></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><span style="font-family: verdana;"><br /></span></p><div class="captioned-image-container" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; margin: var(--size-32) auto;"><figure style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; margin: 0px auto; width: 728px;"><a class="image-link is-viewable-img image2" data-component-name="Image2ToDOM" href="https://substackcdn.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F77fe4b7b-08fa-4ea4-8cc4-3057e0392f03_1050x316.png" rel="" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; border: 0px; cursor: zoom-in; display: flex; flex-direction: column; height: auto; margin: 0px auto; padding: 0px; position: relative; text-decoration-line: none; width: auto;" target="_blank"><div class="image2-inset" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; display: flex; position: relative;"><picture style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;"><span style="font-family: verdana;"><br /></span></picture><picture style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;"><span style="font-family: verdana;"><source sizes="100vw" srcset="https://substackcdn.com/image/fetch/w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F77fe4b7b-08fa-4ea4-8cc4-3057e0392f03_1050x316.png 424w, https://substackcdn.com/image/fetch/w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F77fe4b7b-08fa-4ea4-8cc4-3057e0392f03_1050x316.png 848w, https://substackcdn.com/image/fetch/w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F77fe4b7b-08fa-4ea4-8cc4-3057e0392f03_1050x316.png 1272w, https://substackcdn.com/image/fetch/w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F77fe4b7b-08fa-4ea4-8cc4-3057e0392f03_1050x316.png 1456w" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;" type="image/webp"></source></span><img alt="" class="sizing-normal" data-attrs="{"src":"https://substack-post-media.s3.amazonaws.com/public/images/77fe4b7b-08fa-4ea4-8cc4-3057e0392f03_1050x316.png","fullscreen":null,"imageSize":null,"height":316,"width":1050,"resizeWidth":null,"bytes":44240,"alt":"","title":null,"type":"image/png","href":null,"belowTheFold":true,"topImage":false,"internalRedirect":null}" height="316" loading="lazy" sizes="100vw" src="https://substackcdn.com/image/fetch/w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F77fe4b7b-08fa-4ea4-8cc4-3057e0392f03_1050x316.png" srcset="https://substackcdn.com/image/fetch/w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F77fe4b7b-08fa-4ea4-8cc4-3057e0392f03_1050x316.png 424w, https://substackcdn.com/image/fetch/w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F77fe4b7b-08fa-4ea4-8cc4-3057e0392f03_1050x316.png 848w, https://substackcdn.com/image/fetch/w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F77fe4b7b-08fa-4ea4-8cc4-3057e0392f03_1050x316.png 1272w, https://substackcdn.com/image/fetch/w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F77fe4b7b-08fa-4ea4-8cc4-3057e0392f03_1050x316.png 1456w" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; display: block; height: auto; margin: 0px auto; max-width: 100%;" title="" width="1050" /></picture><div class="image-link-expand" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; background: var(--color-bg-modal); border-radius: 4px; cursor: pointer; display: flex; height: var(--size-32); justify-content: center; opacity: 0; position: absolute; right: var(--size-12); top: var(--size-12); transition: all var(--animation-timing-fast) var(--animation-smoothing); width: var(--size-32);"><svg class="lucide lucide-maximize2" fill="none" height="16" stroke-linecap="round" stroke-linejoin="round" stroke-width="2" stroke="#FFFFFF" viewbox="0 0 24 24" width="16" xmlns="http://www.w3.org/2000/svg"></svg><span style="font-family: verdana;"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></span></div></div></a></figure></div><h3 class="header-with-anchor-widget" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; -webkit-font-smoothing: antialiased; background-color: white; color: #404040; font-weight: var(--font_weight_headings_preset, bold); line-height: 1.16em; margin: 1em 0px 0.625em; position: relative;"><strong style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;"><span style="font-family: verdana; font-size: small;"><br /></span></strong></h3><h3 class="header-with-anchor-widget" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; -webkit-font-smoothing: antialiased; background-color: white; color: #404040; font-weight: var(--font_weight_headings_preset, bold); line-height: 1.16em; margin: 1em 0px 0.625em; position: relative;"><strong style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;"><span style="font-family: verdana; font-size: small;">What we are reading: Lessons from Larry Hite</span></strong><div class="header-anchor-widget offset-top" id="§what-we-are-reading-lessons-from-larry-hite" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; height: 30.3px; left: -56px; position: absolute; top: -72px; width: 56px;"><div class="header-anchor-widget-button-container" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; display: flex; height: 1.2em; left: 0px; position: absolute; top: 72px; width: 40px;"><div class="header-anchor-widget-button" href="https://intelsense.substack.com/i/132274239/what-we-are-reading-lessons-from-larry-hite" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; border-radius: 50%; cursor: pointer; display: flex; height: 40px; justify-content: center; opacity: 0; width: 40px;"><svg class="header-anchor-widget-icon" fill="none" height="20" stroke-linecap="round" stroke-linejoin="round" stroke-width="2" stroke="currentColor" viewbox="0 0 24 24" width="20" xmlns="http://www.w3.org/2000/svg"></svg><span style="font-family: verdana;"><path d="M10 13a5 5 0 0 0 7.54.54l3-3a5 5 0 0 0-7.07-7.07l-1.72 1.71"></path><path d="M14 11a5 5 0 0 0-7.54-.54l-3 3a5 5 0 0 0 7.07 7.07l1.71-1.71"></path></span></div></div></div></h3><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><span style="font-family: verdana;">Larry Hite is regarded as one of the forefathers of systems trading. He grew up as a dyslexic, partially blind kid, facing failure and struggle at every corner. Despite such background, he went on to found and manage, Mint Investment Management Company which at its time became one of the most profitable and most significant quantitative hedge funds in the world. He authored a book “The Rule: How I beat the odds in the Markets and in Life-and How you can too”. It is a fascinating account of someone embracing his fears, frustrations, self-doubt and how this led him to accept markets as they are. In fact, his familiarity with failure helped him manage risks better and become successful in markets. There are some key lessons we can imbibe from his life and his market successes.</span></p><h4 class="header-with-anchor-widget" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; -webkit-font-smoothing: antialiased; background-color: white; color: #404040; font-weight: var(--font_weight_headings_preset, bold); line-height: 1.16em; margin: 1em 0px 0.625em; position: relative;"><span style="font-family: verdana;">Create a system that you can put on autopilot: </span><div class="header-anchor-widget offset-top" id="§create-a-system-that-you-can-put-on-autopilot" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; height: 24.7875px; left: -56px; position: absolute; top: -72px; width: 56px;"><div class="header-anchor-widget-button-container" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; display: flex; height: 1.2em; left: 0px; position: absolute; top: 72px; width: 40px;"><div class="header-anchor-widget-button" href="https://intelsense.substack.com/i/132274239/create-a-system-that-you-can-put-on-autopilot" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; border-radius: 50%; cursor: pointer; display: flex; height: 40px; justify-content: center; opacity: 0; width: 40px;"><svg class="header-anchor-widget-icon" fill="none" height="20" stroke-linecap="round" stroke-linejoin="round" stroke-width="2" stroke="currentColor" viewbox="0 0 24 24" width="20" xmlns="http://www.w3.org/2000/svg"></svg><span style="font-family: verdana;"><path d="M10 13a5 5 0 0 0 7.54.54l3-3a5 5 0 0 0-7.07-7.07l-1.72 1.71"></path><path d="M14 11a5 5 0 0 0-7.54-.54l-3 3a5 5 0 0 0 7.07 7.07l1.71-1.71"></path></span></div></div></div></h4><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><span style="font-family: verdana;"><span style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;">At one time, due to an error of judgement made by his investing partner, Larry incurred serious losses and went into debt. He says “I looked at my debt and decided to go back and do what I really liked. </span><strong style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;">I wanted to create an improved trading system that would remove human discretion entirely</strong><span style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;">”. In due course, he precisely did that, and he goes on to say “We all signed a written agreement that none of us could countermand the system. It was liberating to let go. I was driven not so much by greed as by laziness. I wanted money to work for me, not the reverse. My goal was to create a system I could put on autopilot so I didn’t have to anguish over the ups and downs of the market. This way I could sleep at night, and even better, make money while I was sleeping.”</span></span></p><blockquote style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; border-left: var(--size-4) solid var(--background_pop); color: #404040; margin: var(--size-20) 0; padding: 0px;"></blockquote><h4 class="header-with-anchor-widget" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; -webkit-font-smoothing: antialiased; background-color: white; color: #404040; font-weight: var(--font_weight_headings_preset, bold); line-height: 1.16em; margin: 1em 0px 0.625em; position: relative;"><span style="font-family: verdana;">Markets are not efficient and trend following will never really die</span><div class="header-anchor-widget offset-top" id="§markets-are-not-efficient-and-trend-following-will-never-really-die" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; height: 24.7875px; left: -56px; position: absolute; top: -72px; width: 56px;"><div class="header-anchor-widget-button-container" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; display: flex; height: 1.2em; left: 0px; position: absolute; top: 72px; width: 40px;"><div class="header-anchor-widget-button" href="https://intelsense.substack.com/i/132274239/markets-are-not-efficient-and-trend-following-will-never-really-die" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; border-radius: 50%; cursor: pointer; display: flex; height: 40px; justify-content: center; opacity: 0; width: 40px;"><svg class="header-anchor-widget-icon" fill="none" height="20" stroke-linecap="round" stroke-linejoin="round" stroke-width="2" stroke="currentColor" viewbox="0 0 24 24" width="20" xmlns="http://www.w3.org/2000/svg"></svg><span style="font-family: verdana;"><path d="M10 13a5 5 0 0 0 7.54.54l3-3a5 5 0 0 0-7.07-7.07l-1.72 1.71"></path><path d="M14 11a5 5 0 0 0-7.54-.54l-3 3a5 5 0 0 0 7.07 7.07l1.71-1.71"></path></span></div></div></div></h4><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><span style="font-family: verdana;"><span style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;">Larry says, “Trend following will never really die since there are very few people who are not afraid of losing.” Let that sink in. Much like Warren Buffett, Larry doesn’t believe in efficient markets and says “</span><strong style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;">Efficient markets don’t exist and never will as long as humans are playing the game with greed and fear in a tug of war.</strong><span style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;"> What makes this business so fabulous is that, while you may not know what will happen tomorrow, you can have a very good idea what will happen over the long run. I don’t make money because I know anything. I only make money because I do what the market tells me to do.”</span></span></p><h4 class="header-with-anchor-widget" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; -webkit-font-smoothing: antialiased; background-color: white; color: #404040; font-weight: var(--font_weight_headings_preset, bold); line-height: 1.16em; margin: 1em 0px 0.625em; position: relative;"><span style="font-family: verdana;">You have to be comfortable with small losses:</span><div class="header-anchor-widget offset-top" id="§you-have-to-be-comfortable-with-small-losses" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; height: 24.7875px; left: -56px; position: absolute; top: -72px; width: 56px;"><div class="header-anchor-widget-button-container" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; display: flex; height: 1.2em; left: 0px; position: absolute; top: 72px; width: 40px;"><div class="header-anchor-widget-button" href="https://intelsense.substack.com/i/132274239/you-have-to-be-comfortable-with-small-losses" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; border-radius: 50%; cursor: pointer; display: flex; height: 40px; justify-content: center; opacity: 0; width: 40px;"><svg class="header-anchor-widget-icon" fill="none" height="20" stroke-linecap="round" stroke-linejoin="round" stroke-width="2" stroke="currentColor" viewbox="0 0 24 24" width="20" xmlns="http://www.w3.org/2000/svg"></svg><span style="font-family: verdana;"><path d="M10 13a5 5 0 0 0 7.54.54l3-3a5 5 0 0 0-7.07-7.07l-1.72 1.71"></path><path d="M14 11a5 5 0 0 0-7.54-.54l-3 3a5 5 0 0 0 7.07 7.07l1.71-1.71"></path></span></div></div></div></h4><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><span style="font-family: verdana;"><strong style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;">Quantitative Investing is a business. Losses are the cost of doing business. </strong><span style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;">Larry says “All major fortunes are built on a lot of small losses, which pave the way to big wins and success. I failed so often and so badly that I learned to get comfortable with it as a variable. Because I’d been a poor athlete and bad student, it never surprised me that </span><strong style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;">I would lose. I would quickly accept it, fold my cards, and move on to come back to play another day. I recommend you practice losing money. In the long run, that will help you win big.</strong><span style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;">” If you are not comfortable with accepting small losses frequently, you should not invest on your own, particularly in quantitative, trend-following strategies.</span></span></p><h4 class="header-with-anchor-widget" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; -webkit-font-smoothing: antialiased; background-color: white; color: #404040; font-weight: var(--font_weight_headings_preset, bold); line-height: 1.16em; margin: 1em 0px 0.625em; position: relative;"><span style="font-family: verdana;">You have to manage risk all the time:</span><div class="header-anchor-widget offset-top" id="§you-have-to-manage-risk-all-the-time" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; height: 24.7875px; left: -56px; position: absolute; top: -72px; width: 56px;"><div class="header-anchor-widget-button-container" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; display: flex; height: 1.2em; left: 0px; position: absolute; top: 72px; width: 40px;"><div class="header-anchor-widget-button" href="https://intelsense.substack.com/i/132274239/you-have-to-manage-risk-all-the-time" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; border-radius: 50%; cursor: pointer; display: flex; height: 40px; justify-content: center; opacity: 0; width: 40px;"><svg class="header-anchor-widget-icon" fill="none" height="20" stroke-linecap="round" stroke-linejoin="round" stroke-width="2" stroke="currentColor" viewbox="0 0 24 24" width="20" xmlns="http://www.w3.org/2000/svg"></svg><span style="font-family: verdana;"><path d="M10 13a5 5 0 0 0 7.54.54l3-3a5 5 0 0 0-7.07-7.07l-1.72 1.71"></path><path d="M14 11a5 5 0 0 0-7.54-.54l-3 3a5 5 0 0 0 7.07 7.07l1.71-1.71"></path></span></div></div></div></h4><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><span style="font-family: verdana;"><span style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;">Larry’s system was based on controlling his risk to the downside so that he never loses all of his capital. He says “You can’t completely control outcomes. But you can control two things for sure. </span><strong style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;">The odds of the bet you take, and the risk you take. If you keep placing good bets, over time the law of averages will work for you. If you keep placing bad bets, over time the law of averages will work against you.</strong><span style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;">”</span></span></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><span style="font-family: verdana;">His failure helped him win big. How? “I always expected to fail big. Solution? I engineered my actions so that a failure could not kill me. I won because I always expected to lose.” That may sound paradoxical but is the single most key ingredient to success in investing using any kind of method.</span></p><blockquote style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; border-left: var(--size-4) solid var(--background_pop); color: #404040; margin: var(--size-20) 0; padding: 0px;"></blockquote><h4 class="header-with-anchor-widget" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; -webkit-font-smoothing: antialiased; background-color: white; color: #404040; font-weight: var(--font_weight_headings_preset, bold); line-height: 1.16em; margin: 1em 0px 0.625em; position: relative;"><span style="font-family: verdana;">Backtesting is important:</span><div class="header-anchor-widget offset-top" id="§backtesting-is-important" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; height: 24.7875px; left: -56px; position: absolute; top: -72px; width: 56px;"><div class="header-anchor-widget-button-container" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; display: flex; height: 1.2em; left: 0px; position: absolute; top: 72px; width: 40px;"><div class="header-anchor-widget-button" href="https://intelsense.substack.com/i/132274239/backtesting-is-important" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; border-radius: 50%; cursor: pointer; display: flex; height: 40px; justify-content: center; opacity: 0; width: 40px;"><svg class="header-anchor-widget-icon" fill="none" height="20" stroke-linecap="round" stroke-linejoin="round" stroke-width="2" stroke="currentColor" viewbox="0 0 24 24" width="20" xmlns="http://www.w3.org/2000/svg"></svg><span style="font-family: verdana;"><path d="M10 13a5 5 0 0 0 7.54.54l3-3a5 5 0 0 0-7.07-7.07l-1.72 1.71"></path><path d="M14 11a5 5 0 0 0-7.54-.54l-3 3a5 5 0 0 0 7.07 7.07l1.71-1.71"></path></span></div></div></div></h4><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><span style="font-family: verdana;"><span style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;">“Now, obviously, just because you get something right in the past doesn’t mean you will get it right in the future—historical testing has its flaws. Just the same, </span><strong style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;">these simulations were highly valuable because using real market conditions—even in the past—gave us far better information than hypothetical scenarios of us sitting around the office guessing.</strong><span style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;">”</span></span></p><blockquote style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; border-left: var(--size-4) solid var(--background_pop); color: #404040; margin: var(--size-20) 0; padding: 0px;"></blockquote><h4 class="header-with-anchor-widget" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; -webkit-font-smoothing: antialiased; background-color: white; color: #404040; font-weight: var(--font_weight_headings_preset, bold); line-height: 1.16em; margin: 1em 0px 0.625em; position: relative;"><span style="font-family: verdana;">Drawdowns are a feature and not a bug:</span><div class="header-anchor-widget offset-top" id="§drawdowns-are-a-feature-and-not-a-bug" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; height: 24.7875px; left: -56px; position: absolute; top: -72px; width: 56px;"><div class="header-anchor-widget-button-container" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; display: flex; height: 1.2em; left: 0px; position: absolute; top: 72px; width: 40px;"><div class="header-anchor-widget-button" href="https://intelsense.substack.com/i/132274239/drawdowns-are-a-feature-and-not-a-bug" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; border-radius: 50%; cursor: pointer; display: flex; height: 40px; justify-content: center; opacity: 0; width: 40px;"><svg class="header-anchor-widget-icon" fill="none" height="20" stroke-linecap="round" stroke-linejoin="round" stroke-width="2" stroke="currentColor" viewbox="0 0 24 24" width="20" xmlns="http://www.w3.org/2000/svg"></svg><span style="font-family: verdana;"><path d="M10 13a5 5 0 0 0 7.54.54l3-3a5 5 0 0 0-7.07-7.07l-1.72 1.71"></path><path d="M14 11a5 5 0 0 0-7.54-.54l-3 3a5 5 0 0 0 7.07 7.07l1.71-1.71"></path></span></div></div></div></h4><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><span style="font-family: verdana;">Based on Larry’s experience in running trend-following strategies successfully, he makes it clear, “Be prepared to lose roughly the size of your annual return. For example, a strategy with a 10 per cent return over time should be expected to suffer at least double the annual return in a 20 per cent drawdown—so a strategy with a 30 per cent return over time should be expected to suffer a 60 per cent drawdown.”</span></p><h3 class="header-with-anchor-widget" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; -webkit-font-smoothing: antialiased; background-color: white; color: #404040; font-weight: var(--font_weight_headings_preset, bold); line-height: 1.16em; margin: 1em 0px 0.625em; position: relative;"><strong style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;"><span style="font-family: verdana; font-size: small;">Larry Hite Quotes worth reflecting upon:</span></strong><div class="header-anchor-widget offset-top" id="§larry-hite-quotes-worth-reflecting-upon" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; height: 30.3px; left: -56px; position: absolute; top: -72px; width: 56px;"><div class="header-anchor-widget-button-container" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; display: flex; height: 1.2em; left: 0px; position: absolute; top: 72px; width: 40px;"><div class="header-anchor-widget-button" href="https://intelsense.substack.com/i/132274239/larry-hite-quotes-worth-reflecting-upon" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; border-radius: 50%; cursor: pointer; display: flex; height: 40px; justify-content: center; opacity: 0; width: 40px;"><svg class="header-anchor-widget-icon" fill="none" height="20" stroke-linecap="round" stroke-linejoin="round" stroke-width="2" stroke="currentColor" viewbox="0 0 24 24" width="20" xmlns="http://www.w3.org/2000/svg"></svg><span style="font-family: verdana;"><path d="M10 13a5 5 0 0 0 7.54.54l3-3a5 5 0 0 0-7.07-7.07l-1.72 1.71"></path><path d="M14 11a5 5 0 0 0-7.54-.54l-3 3a5 5 0 0 0 7.07 7.07l1.71-1.71"></path></span></div></div></div></h3><blockquote style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; border-left: var(--size-4) solid var(--background_pop); color: #404040; margin: var(--size-20) 0; padding: 0px; text-align: left;"><ul style="text-align: left;"><li><span style="color: var(--print_on_web_bg_color, var(--color-primary));"><span style="font-family: verdana;">Follow the crowd and go where the money goes.</span></span></li><li><span style="color: var(--print_on_web_bg_color, var(--color-primary));"><span style="font-family: verdana;">If you’re offered a seat on a rocket ship, don’t ask what seat. Just get on.</span></span></li><li><span style="color: var(--print_on_web_bg_color, var(--color-primary));"><span style="font-family: verdana;">Why will trend following never really die? There are very few people who are not afraid of losing.</span></span></li><li><span style="color: var(--print_on_web_bg_color, var(--color-primary));"><span style="font-family: verdana;">When you start following slick reports filled with predictions, you’re just finding out who has good copywriters.</span></span></li><li><span style="color: var(--print_on_web_bg_color, var(--color-primary));"><span style="font-family: verdana;">Global financial markets are not best explained or traded by stories but rather by numbers (which are the only facts).</span></span></li><li><span style="font-family: verdana;">Markets are the ever-shifting accumulation of cold economic interests competing for superiority within regulated legal systems.</span></li></ul><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; box-sizing: border-box; color: var(--print_on_web_bg_color, var(--color-primary)); line-height: 1.6em; margin: 0px; padding-left: var(--size-4);"></p></blockquote><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><span style="font-family: verdana;">We will be back next month with the state of the markets review and update on what new we are learning in the field of quantitative investing.</span></p><div><br /></div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-5297910739720462639.post-60915403395921915502023-06-06T23:51:00.003-07:002023-06-06T23:51:19.444-07:00Centum Electronics - Annual Report Summary<p>An Intelsense Knowledge Series - we regularly study interesting businesses. We keep profiling them. The idea is to keep learning and expanding our knowledge base.</p><span><a name='more'></a></span><div class="captioned-image-container" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; margin-top: 0px;"><figure style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; margin: 0px auto; width: 728px;"><a class="image-link image2" data-component-name="Image2ToDOM" href="https://substackcdn.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F061a07d1-a50f-4d02-aceb-7693ae05bc97_302x85.png" rel="" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; border: 0px; display: flex; flex-direction: column; height: auto; margin: 0px auto; padding: 0px; position: relative; text-decoration-line: none; width: auto;" target="_blank"><div class="image2-inset" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; display: flex; position: relative;"><picture style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;"><img alt="" class="sizing-normal" data-attrs="{"src":"https://substack-post-media.s3.amazonaws.com/public/images/061a07d1-a50f-4d02-aceb-7693ae05bc97_302x85.png","fullscreen":null,"imageSize":null,"height":85,"width":302,"resizeWidth":null,"bytes":29626,"alt":null,"title":null,"type":"image/png","href":null,"belowTheFold":false,"topImage":true,"internalRedirect":null}" fetchpriority="high" height="85" sizes="100vw" src="https://substackcdn.com/image/fetch/w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F061a07d1-a50f-4d02-aceb-7693ae05bc97_302x85.png" srcset="https://substackcdn.com/image/fetch/w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F061a07d1-a50f-4d02-aceb-7693ae05bc97_302x85.png 424w, https://substackcdn.com/image/fetch/w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F061a07d1-a50f-4d02-aceb-7693ae05bc97_302x85.png 848w, https://substackcdn.com/image/fetch/w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F061a07d1-a50f-4d02-aceb-7693ae05bc97_302x85.png 1272w, https://substackcdn.com/image/fetch/w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F061a07d1-a50f-4d02-aceb-7693ae05bc97_302x85.png 1456w" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; display: block; height: auto; margin: 0px auto; max-width: 100%;" width="302" /></picture><div style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;"></div></div></a></figure></div><h3 class="header-with-anchor-widget" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; -webkit-font-smoothing: antialiased; background-color: white; color: #404040; font-family: var(--font_family_headings, var(--font_family_headings_preset, 'SF Compact Display', -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Helvetica, Arial, sans-serif, 'Apple Color Emoji', 'Segoe UI Emoji', 'Segoe UI Symbol')); font-size: 1.375em; font-weight: var(--font_weight_headings_preset, bold); line-height: 1.16em; margin: 1em 0px 0.625em; position: relative;">Business Overview<div class="header-anchor-widget offset-top" id="§business-overview" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; height: 30.3px; left: -56px; position: absolute; top: -72px; width: 56px;"><div class="header-anchor-widget-button-container" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; display: flex; height: 1.2em; left: 0px; position: absolute; top: 72px; width: 40px;"><div class="header-anchor-widget-button" href="https://intelsense.substack.com/i/126572029/business-overview" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; border-radius: 50%; cursor: pointer; display: flex; height: 40px; justify-content: center; opacity: 0; width: 40px;"><svg class="header-anchor-widget-icon" fill="none" height="20" stroke-linecap="round" stroke-linejoin="round" stroke-width="2" stroke="currentColor" viewbox="0 0 24 24" width="20" xmlns="http://www.w3.org/2000/svg"><path d="M10 13a5 5 0 0 0 7.54.54l3-3a5 5 0 0 0-7.07-7.07l-1.72 1.71"></path><path d="M14 11a5 5 0 0 0-7.54-.54l-3 3a5 5 0 0 0 7.07 7.07l1.71-1.71"></path></svg></div></div></div></h3><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">Centum Electronics is an Indian company specializing in the design, development, and manufacturing of advanced electronics solutions for various industries. Established in 1994, Centum Electronics has grown to become a prominent player in the global electronics market.</p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><br /></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><span style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;">The company offers a wide range of products and services, including </span><strong style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;">electronic manufacturing services (EMS), system design, engineering, and manufacturing of high-reliability electronic and electromechanical products</strong><span style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;">. Their expertise spans sectors such as </span><strong style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;">aerospace, defence, industrial, medical, telecommunications, and automotive.</strong></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><br /></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">The company is focusing on expanding its customer portfolio domestically & internationally and enhancing customer penetration in high-growth industry verticals like Healthcare, Automotive, etc.</p><div class="captioned-image-container" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; margin: var(--size-32) auto;"><figure style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; margin: 0px auto; width: 728px;"><a class="image-link is-viewable-img image2" data-component-name="Image2ToDOM" href="https://substackcdn.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fc92b4331-306d-4f40-8bd0-c8fbbb45b269_756x316.png" rel="" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; border: 0px; cursor: zoom-in; display: flex; flex-direction: column; height: auto; margin: 0px auto; padding: 0px; position: relative; text-decoration-line: none; width: auto;" target="_blank"><div class="image2-inset" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; display: flex; position: relative;"><picture style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;"><source sizes="100vw" srcset="https://substackcdn.com/image/fetch/w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fc92b4331-306d-4f40-8bd0-c8fbbb45b269_756x316.png 424w, https://substackcdn.com/image/fetch/w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fc92b4331-306d-4f40-8bd0-c8fbbb45b269_756x316.png 848w, https://substackcdn.com/image/fetch/w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fc92b4331-306d-4f40-8bd0-c8fbbb45b269_756x316.png 1272w, https://substackcdn.com/image/fetch/w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fc92b4331-306d-4f40-8bd0-c8fbbb45b269_756x316.png 1456w" style="--tw-ring-color: rgb(59 130 246 / 0.5); 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--tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; display: block; height: auto; margin: 0px auto; max-width: 100%;" width="756" /></picture><div class="image-link-expand" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; background: var(--color-bg-modal); border-radius: 4px; cursor: pointer; display: flex; height: var(--size-32); justify-content: center; opacity: 0; position: absolute; right: var(--size-12); top: var(--size-12); transition: all var(--animation-timing-fast) var(--animation-smoothing); width: var(--size-32);"><svg class="lucide lucide-maximize2" fill="none" height="16" stroke-linecap="round" stroke-linejoin="round" stroke-width="2" stroke="#FFFFFF" viewbox="0 0 24 24" width="16" xmlns="http://www.w3.org/2000/svg"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></div></div></a></figure></div><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">Centum is a leading Electronics industry partner and one of the private contractors for ISRO and is involved in the Design, Development, Qualification, and Production of electronic modules, subsystems, and systems for multiple applications in satellites and launch vehicles.</p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><br /></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">Their business can be divided into three essential segments:</p><ul style="text-align: left;"><li><span style="background-color: white; color: var(--print_on_web_bg_color, var(--color-primary)); font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px;">Electronic Manufacturing Services,</span></li><li><span style="background-color: white; color: var(--print_on_web_bg_color, var(--color-primary)); font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px;">Engineering R&D Services and</span></li><li>Build to specification services.</li></ul><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; box-sizing: border-box; color: var(--print_on_web_bg_color, var(--color-primary)); font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0px; padding-left: var(--size-4); text-align: left;"></p><h3 class="header-with-anchor-widget" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; -webkit-font-smoothing: antialiased; background-color: white; color: #404040; font-family: var(--font_family_headings, var(--font_family_headings_preset, 'SF Compact Display', -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Helvetica, Arial, sans-serif, 'Apple Color Emoji', 'Segoe UI Emoji', 'Segoe UI Symbol')); font-size: 1.375em; font-weight: var(--font_weight_headings_preset, bold); line-height: 1.16em; margin: 1em 0px 0.625em; position: relative;">Electronic Manufacturing Services:<div class="header-anchor-widget offset-top" id="§electronic-manufacturing-services" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; height: 30.3px; left: -56px; position: absolute; top: -72px; width: 56px;"><div class="header-anchor-widget-button-container" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; display: flex; height: 1.2em; left: 0px; position: absolute; top: 72px; width: 40px;"><div class="header-anchor-widget-button" href="https://intelsense.substack.com/i/126572029/electronic-manufacturing-services" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; border-radius: 50%; cursor: pointer; display: flex; height: 40px; justify-content: center; opacity: 0; width: 40px;"><svg class="header-anchor-widget-icon" fill="none" height="20" stroke-linecap="round" stroke-linejoin="round" stroke-width="2" stroke="currentColor" viewbox="0 0 24 24" width="20" xmlns="http://www.w3.org/2000/svg"><path d="M10 13a5 5 0 0 0 7.54.54l3-3a5 5 0 0 0-7.07-7.07l-1.72 1.71"></path><path d="M14 11a5 5 0 0 0-7.54-.54l-3 3a5 5 0 0 0 7.07 7.07l1.71-1.71"></path></svg></div></div></div></h3><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">The company offers a wide range of manufacturing solutions from printed circuit board assemblies to complex finished products. It also provides system integration, hardware designs, Simulation tools and Prototyping services. By providing scalable manufacturing solutions and a flexible, proactive approach to managing the supply chain and lifecycle-related challenges, Centum helps customers achieve their goals of lower Total Cost of Ownership and reduced time-to-market among others.</p><h3 class="header-with-anchor-widget" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; -webkit-font-smoothing: antialiased; background-color: white; color: #404040; font-family: var(--font_family_headings, var(--font_family_headings_preset, 'SF Compact Display', -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Helvetica, Arial, sans-serif, 'Apple Color Emoji', 'Segoe UI Emoji', 'Segoe UI Symbol')); font-size: 1.375em; font-weight: var(--font_weight_headings_preset, bold); line-height: 1.16em; margin: 1em 0px 0.625em; position: relative;">Engineering R&D Services:<div class="header-anchor-widget offset-top" id="§engineering-r-and-d-services" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; height: 30.3px; left: -56px; position: absolute; top: -72px; width: 56px;"><div class="header-anchor-widget-button-container" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; display: flex; height: 1.2em; left: 0px; position: absolute; top: 72px; width: 40px;"><div class="header-anchor-widget-button" href="https://intelsense.substack.com/i/126572029/engineering-r-and-d-services" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; border-radius: 50%; cursor: pointer; display: flex; height: 40px; justify-content: center; opacity: 0; width: 40px;"><svg class="header-anchor-widget-icon" fill="none" height="20" stroke-linecap="round" stroke-linejoin="round" stroke-width="2" stroke="currentColor" viewbox="0 0 24 24" width="20" xmlns="http://www.w3.org/2000/svg"><path d="M10 13a5 5 0 0 0 7.54.54l3-3a5 5 0 0 0-7.07-7.07l-1.72 1.71"></path><path d="M14 11a5 5 0 0 0-7.54-.54l-3 3a5 5 0 0 0 7.07 7.07l1.71-1.71"></path></svg></div></div></div></h3><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">Engineering Services involve conceptualizing, designing and certifying of Electronic Hardware, Embedded Software, FPGA, Analog, Radio Frequency products, Power Electronics, etc. Centum Group has a global design strength of over 650 design engineers and for the last 25 years, the company has been helping customers turn their ideas into products.</p><h3 class="header-with-anchor-widget" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; -webkit-font-smoothing: antialiased; background-color: white; color: #404040; font-family: var(--font_family_headings, var(--font_family_headings_preset, 'SF Compact Display', -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Helvetica, Arial, sans-serif, 'Apple Color Emoji', 'Segoe UI Emoji', 'Segoe UI Symbol')); font-size: 1.375em; font-weight: var(--font_weight_headings_preset, bold); line-height: 1.16em; margin: 1em 0px 0.625em; position: relative;">Build to Specification:<div class="header-anchor-widget offset-top" id="§build-to-specification" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; height: 30.3px; left: -56px; position: absolute; top: -72px; width: 56px;"><div class="header-anchor-widget-button-container" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; display: flex; height: 1.2em; left: 0px; position: absolute; top: 72px; width: 40px;"><div class="header-anchor-widget-button" href="https://intelsense.substack.com/i/126572029/build-to-specification" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; border-radius: 50%; cursor: pointer; display: flex; height: 40px; justify-content: center; opacity: 0; width: 40px;"><svg class="header-anchor-widget-icon" fill="none" height="20" stroke-linecap="round" stroke-linejoin="round" stroke-width="2" stroke="currentColor" viewbox="0 0 24 24" width="20" xmlns="http://www.w3.org/2000/svg"><path d="M10 13a5 5 0 0 0 7.54.54l3-3a5 5 0 0 0-7.07-7.07l-1.72 1.71"></path><path d="M14 11a5 5 0 0 0-7.54-.54l-3 3a5 5 0 0 0 7.07 7.07l1.71-1.71"></path></svg></div></div></div></h3><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">The Built to Specification services include taking a project from conceptualization to mass production quickly and efficiently. The company is also able to better the product lifecycle management by proactively and effectively managing issues such as obsolescence, performance upgrades, market-specific localization and cost reduction.</p><h3 class="header-with-anchor-widget" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; -webkit-font-smoothing: antialiased; background-color: white; color: #404040; font-family: var(--font_family_headings, var(--font_family_headings_preset, 'SF Compact Display', -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Helvetica, Arial, sans-serif, 'Apple Color Emoji', 'Segoe UI Emoji', 'Segoe UI Symbol')); font-size: 1.375em; font-weight: var(--font_weight_headings_preset, bold); line-height: 1.16em; margin: 1em 0px 0.625em; position: relative;">Industry Analysis<div class="header-anchor-widget offset-top" id="§industry-analysis" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; height: 30.3px; left: -56px; position: absolute; top: -72px; width: 56px;"><div class="header-anchor-widget-button-container" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; display: flex; height: 1.2em; left: 0px; position: absolute; top: 72px; width: 40px;"><div class="header-anchor-widget-button" href="https://intelsense.substack.com/i/126572029/industry-analysis" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; border-radius: 50%; cursor: pointer; display: flex; height: 40px; justify-content: center; opacity: 0; width: 40px;"><svg class="header-anchor-widget-icon" fill="none" height="20" stroke-linecap="round" stroke-linejoin="round" stroke-width="2" stroke="currentColor" viewbox="0 0 24 24" width="20" xmlns="http://www.w3.org/2000/svg"><path d="M10 13a5 5 0 0 0 7.54.54l3-3a5 5 0 0 0-7.07-7.07l-1.72 1.71"></path><path d="M14 11a5 5 0 0 0-7.54-.54l-3 3a5 5 0 0 0 7.07 7.07l1.71-1.71"></path></svg></div></div></div></h3><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">The global electronics industry was estimated at US$ 2.9 trillion in 2020. The Indian government has widely recognised the strategic importance and growth potential of this industry in its National Policy for Electronics (NPE) 2019.</p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><br /></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">According to the ‘A call to action for broadening and deepening electronics manufacturing’ report by the Ministry of Electronics and IT, India aims to achieve electronics manufacturing worth US$ 300 billion by 2026.</p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><br /></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">The electronics industry is experiencing several tailwinds that are driving its growth and innovation. The increasing demand for connected devices and the Internet of Things (IoT) is creating opportunities for electronic component manufacturers. The proliferation of smart homes, wearable devices, and industrial IoT applications is fuelling the need for advanced sensors, wireless connectivity solutions, and microcontrollers.</p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><br /></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">The ongoing digital transformation across industries is generating demand for advanced electronics. Sectors such as healthcare, automotive, and manufacturing are leveraging technologies like robotics, automation, and data analytics, which rely heavily on electronic components and systems.</p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><br /></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">Moreover, the push for renewable energy and sustainability is driving the adoption of electronic solutions in areas such as solar power, energy storage, and electric vehicles.</p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">The increasing demand for satellite constellations and space exploration missions is driving the need for advanced electronics for communication, navigation, and imaging systems. The development of small satellites and nanosatellites is creating opportunities for miniaturized and high-performance electronic components. Furthermore, the growth of commercial space activities and the emergence of new space startups are fuelling innovation and driving investments in aerospace electronics.</p><h3 class="header-with-anchor-widget" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; -webkit-font-smoothing: antialiased; background-color: white; color: #404040; font-family: var(--font_family_headings, var(--font_family_headings_preset, 'SF Compact Display', -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Helvetica, Arial, sans-serif, 'Apple Color Emoji', 'Segoe UI Emoji', 'Segoe UI Symbol')); font-size: 1.375em; font-weight: var(--font_weight_headings_preset, bold); line-height: 1.16em; margin: 1em 0px 0.625em; position: relative;">Management<div class="header-anchor-widget offset-top" id="§management" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; height: 30.3px; left: -56px; position: absolute; top: -72px; width: 56px;"><div class="header-anchor-widget-button-container" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; display: flex; height: 1.2em; left: 0px; position: absolute; top: 72px; width: 40px;"><div class="header-anchor-widget-button" href="https://intelsense.substack.com/i/126572029/management" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; border-radius: 50%; cursor: pointer; display: flex; height: 40px; justify-content: center; opacity: 0; width: 40px;"><svg class="header-anchor-widget-icon" fill="none" height="20" stroke-linecap="round" stroke-linejoin="round" stroke-width="2" stroke="currentColor" viewbox="0 0 24 24" width="20" xmlns="http://www.w3.org/2000/svg"><path d="M10 13a5 5 0 0 0 7.54.54l3-3a5 5 0 0 0-7.07-7.07l-1.72 1.71"></path><path d="M14 11a5 5 0 0 0-7.54-.54l-3 3a5 5 0 0 0 7.07 7.07l1.71-1.71"></path></svg></div></div></div></h3><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">Apparao V Mallavarapu – Chairmen and Managing Director.</p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">Nikhil Mallavarapu - Executive Director</p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">Dr Swarnalatha Mallavarapu - Non-Executive Director</p><div class="captioned-image-container" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; margin: var(--size-32) auto;"><figure style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; 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opacity: 0; position: absolute; right: var(--size-12); top: var(--size-12); transition: all var(--animation-timing-fast) var(--animation-smoothing); width: var(--size-32);"><svg class="lucide lucide-maximize2" fill="none" height="16" stroke-linecap="round" stroke-linejoin="round" stroke-width="2" stroke="#FFFFFF" viewbox="0 0 24 24" width="16" xmlns="http://www.w3.org/2000/svg"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></div></div></a></figure></div><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"></p><h3 class="header-with-anchor-widget" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; -webkit-font-smoothing: antialiased; background-color: white; color: #404040; font-family: var(--font_family_headings, var(--font_family_headings_preset, 'SF Compact Display', -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Helvetica, Arial, sans-serif, 'Apple Color Emoji', 'Segoe UI Emoji', 'Segoe UI Symbol')); font-size: 1.375em; font-weight: var(--font_weight_headings_preset, bold); line-height: 1.16em; margin: 1em 0px 0.625em; position: relative;">Business Analysis<div class="header-anchor-widget offset-top" id="§business-analysis" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; height: 30.3px; left: -56px; position: absolute; top: -72px; width: 56px;"><div class="header-anchor-widget-button-container" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; display: flex; height: 1.2em; left: 0px; position: absolute; top: 72px; width: 40px;"><div class="header-anchor-widget-button" href="https://intelsense.substack.com/i/126572029/business-analysis" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; border-radius: 50%; cursor: pointer; display: flex; height: 40px; justify-content: center; opacity: 0; width: 40px;"><svg class="header-anchor-widget-icon" fill="none" height="20" stroke-linecap="round" stroke-linejoin="round" stroke-width="2" stroke="currentColor" viewbox="0 0 24 24" width="20" xmlns="http://www.w3.org/2000/svg"><path d="M10 13a5 5 0 0 0 7.54.54l3-3a5 5 0 0 0-7.07-7.07l-1.72 1.71"></path><path d="M14 11a5 5 0 0 0-7.54-.54l-3 3a5 5 0 0 0 7.07 7.07l1.71-1.71"></path></svg></div></div></div></h3><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">The company’s operations along the business areas it caters to are explained below:</p><h4 class="header-with-anchor-widget" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; -webkit-font-smoothing: antialiased; background-color: white; color: #404040; font-family: var(--font_family_headings, var(--font_family_headings_preset, 'SF Compact Display', -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Helvetica, Arial, sans-serif, 'Apple Color Emoji', 'Segoe UI Emoji', 'Segoe UI Symbol')); font-size: 1.125em; font-weight: var(--font_weight_headings_preset, bold); line-height: 1.16em; margin: 1em 0px 0.625em; position: relative;">Aerospace:<div class="header-anchor-widget offset-top" id="§aerospace" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; height: 24.7875px; left: -56px; position: absolute; top: -72px; width: 56px;"><div class="header-anchor-widget-button-container" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; display: flex; height: 1.2em; left: 0px; position: absolute; top: 72px; width: 40px;"><div class="header-anchor-widget-button" href="https://intelsense.substack.com/i/126572029/aerospace" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; border-radius: 50%; cursor: pointer; display: flex; height: 40px; justify-content: center; opacity: 0; width: 40px;"><svg class="header-anchor-widget-icon" fill="none" height="20" stroke-linecap="round" stroke-linejoin="round" stroke-width="2" stroke="currentColor" viewbox="0 0 24 24" width="20" xmlns="http://www.w3.org/2000/svg"><path d="M10 13a5 5 0 0 0 7.54.54l3-3a5 5 0 0 0-7.07-7.07l-1.72 1.71"></path><path d="M14 11a5 5 0 0 0-7.54-.54l-3 3a5 5 0 0 0 7.07 7.07l1.71-1.71"></path></svg></div></div></div></h4><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">The Aerospace industry has several ongoing technological initiatives to make aircrafts more fuel-efficient, environmentally friendly and safer, which involves incorporating more electronics on board, making avionics platforms more configurable, and of course factoring in environmental issues and reducing human error to improve safety.</p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">Alongside products for command & control, power electronics and energy storage applications, Centum is also developing activities in ground and flight testing -- using its own test benches and simulators. It also plays a huge role in the global aerospace supply chain delivering critical electronics for cockpit computers, Air Traffic Management.</p><h4 class="header-with-anchor-widget" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; -webkit-font-smoothing: antialiased; background-color: white; color: #404040; font-family: var(--font_family_headings, var(--font_family_headings_preset, 'SF Compact Display', -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Helvetica, Arial, sans-serif, 'Apple Color Emoji', 'Segoe UI Emoji', 'Segoe UI Symbol')); font-size: 1.125em; font-weight: var(--font_weight_headings_preset, bold); line-height: 1.16em; margin: 1em 0px 0.625em; position: relative;">Space:<div class="header-anchor-widget offset-top" id="§space" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; height: 24.7875px; left: -56px; position: absolute; top: -72px; width: 56px;"><div class="header-anchor-widget-button-container" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; display: flex; height: 1.2em; left: 0px; position: absolute; top: 72px; width: 40px;"><div class="header-anchor-widget-button" href="https://intelsense.substack.com/i/126572029/space" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; border-radius: 50%; cursor: pointer; display: flex; height: 40px; justify-content: center; opacity: 0; width: 40px;"><svg class="header-anchor-widget-icon" fill="none" height="20" stroke-linecap="round" stroke-linejoin="round" stroke-width="2" stroke="currentColor" viewbox="0 0 24 24" width="20" xmlns="http://www.w3.org/2000/svg"><path d="M10 13a5 5 0 0 0 7.54.54l3-3a5 5 0 0 0-7.07-7.07l-1.72 1.71"></path><path d="M14 11a5 5 0 0 0-7.54-.54l-3 3a5 5 0 0 0 7.07 7.07l1.71-1.71"></path></svg></div></div></div></h4><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">Space technology is progressing at a rapid pace driven by commercial applications such as satellite broadcasting, communication, Earth observation, geo-location, and global navigation equipment and services. The company is a leading electronics industry partner and one of the largest private contractors of ISRO.</p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><br /></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">It has delivered mission-critical electronics on almost all satellite programs of ISRO including the ambitious Chandrayaan and Mangalyaan projects, and also delivered 300 to 500 components for almost every Indian space mission.</p><h4 class="header-with-anchor-widget" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; -webkit-font-smoothing: antialiased; background-color: white; color: #404040; font-family: var(--font_family_headings, var(--font_family_headings_preset, 'SF Compact Display', -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Helvetica, Arial, sans-serif, 'Apple Color Emoji', 'Segoe UI Emoji', 'Segoe UI Symbol')); font-size: 1.125em; font-weight: var(--font_weight_headings_preset, bold); line-height: 1.16em; margin: 1em 0px 0.625em; position: relative;">Defence:<div class="header-anchor-widget offset-top" id="§defence" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; height: 24.7875px; left: -56px; position: absolute; top: -72px; width: 56px;"><div class="header-anchor-widget-button-container" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; display: flex; height: 1.2em; left: 0px; position: absolute; top: 72px; width: 40px;"><div class="header-anchor-widget-button" href="https://intelsense.substack.com/i/126572029/defence" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; border-radius: 50%; cursor: pointer; display: flex; height: 40px; justify-content: center; opacity: 0; width: 40px;"><svg class="header-anchor-widget-icon" fill="none" height="20" stroke-linecap="round" stroke-linejoin="round" stroke-width="2" stroke="currentColor" viewbox="0 0 24 24" width="20" xmlns="http://www.w3.org/2000/svg"><path d="M10 13a5 5 0 0 0 7.54.54l3-3a5 5 0 0 0-7.07-7.07l-1.72 1.71"></path><path d="M14 11a5 5 0 0 0-7.54-.54l-3 3a5 5 0 0 0 7.07 7.07l1.71-1.71"></path></svg></div></div></div></h4><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">Recent trends in electronics related to missile building include advancements in guidance, navigation, and control systems. The integration of advanced sensors, including imaging infrared seekers and active electronically scanned array (AESA) radars, enables improved target detection and tracking. Additionally, there is a focus on miniaturization and increased efficiency of electronic components to enhance the performance and range of missiles. </p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><br /></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">Centum started its defence business in 2010 and it is today the largest industry vertical for the company. Over the years the company has been successful in developing and manufacturing critical systems for major Defence programs that span across the land, air and naval systems with applications in Missiles, Electronic Warfare, Radar, Military Communications, and fire control amongst others. For the past two decades, the company has been involved in developing and building subsystems for missiles and communication appliances for DRDO Laboratories. It has catered to international OEM manufacturing as well.</p><h4 class="header-with-anchor-widget" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; -webkit-font-smoothing: antialiased; background-color: white; color: #404040; font-family: var(--font_family_headings, var(--font_family_headings_preset, 'SF Compact Display', -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Helvetica, Arial, sans-serif, 'Apple Color Emoji', 'Segoe UI Emoji', 'Segoe UI Symbol')); font-size: 1.125em; font-weight: var(--font_weight_headings_preset, bold); line-height: 1.16em; margin: 1em 0px 0.625em; position: relative;">Transportation:<div class="header-anchor-widget offset-top" id="§transportation" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; height: 24.7875px; left: -56px; position: absolute; top: -72px; width: 56px;"><div class="header-anchor-widget-button-container" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; display: flex; height: 1.2em; left: 0px; position: absolute; top: 72px; width: 40px;"><div class="header-anchor-widget-button" href="https://intelsense.substack.com/i/126572029/transportation" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; border-radius: 50%; cursor: pointer; display: flex; height: 40px; justify-content: center; opacity: 0; width: 40px;"><svg class="header-anchor-widget-icon" fill="none" height="20" stroke-linecap="round" stroke-linejoin="round" stroke-width="2" stroke="currentColor" viewbox="0 0 24 24" width="20" xmlns="http://www.w3.org/2000/svg"><path d="M10 13a5 5 0 0 0 7.54.54l3-3a5 5 0 0 0-7.07-7.07l-1.72 1.71"></path><path d="M14 11a5 5 0 0 0-7.54-.54l-3 3a5 5 0 0 0 7.07 7.07l1.71-1.71"></path></svg></div></div></div></h4><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">Centum is at the forefront of the Transportation sector working very closely with the leading global OEMs and rail operators on developing the next-generation technologies for rolling stock and signalling applications. The company’s products have been deployed in the United States, Europe, Asia and Australia. In addition, Centum provides specialist engineering services and manufacturing services to help clients to meet operational, commercial and regulatory requirements.</p><h4 class="header-with-anchor-widget" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; -webkit-font-smoothing: antialiased; background-color: white; color: #404040; font-family: var(--font_family_headings, var(--font_family_headings_preset, 'SF Compact Display', -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Helvetica, Arial, sans-serif, 'Apple Color Emoji', 'Segoe UI Emoji', 'Segoe UI Symbol')); font-size: 1.125em; font-weight: var(--font_weight_headings_preset, bold); line-height: 1.16em; margin: 1em 0px 0.625em; position: relative;">Automotive:<div class="header-anchor-widget offset-top" id="§automotive" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; height: 24.7875px; left: -56px; position: absolute; top: -72px; width: 56px;"><div class="header-anchor-widget-button-container" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; display: flex; height: 1.2em; left: 0px; position: absolute; top: 72px; width: 40px;"><div class="header-anchor-widget-button" href="https://intelsense.substack.com/i/126572029/automotive" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; border-radius: 50%; cursor: pointer; display: flex; height: 40px; justify-content: center; opacity: 0; width: 40px;"><svg class="header-anchor-widget-icon" fill="none" height="20" stroke-linecap="round" stroke-linejoin="round" stroke-width="2" stroke="currentColor" viewbox="0 0 24 24" width="20" xmlns="http://www.w3.org/2000/svg"><path d="M10 13a5 5 0 0 0 7.54.54l3-3a5 5 0 0 0-7.07-7.07l-1.72 1.71"></path><path d="M14 11a5 5 0 0 0-7.54-.54l-3 3a5 5 0 0 0 7.07 7.07l1.71-1.71"></path></svg></div></div></div></h4><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">The automotive industry is going through a dynamic transformation with new players entering the market introducing disruptive technologies incorporating electronics for applications such as autonomous driving, powertrain architecture and connectivity among others. Centum is involved in R&D and subsystem manufacturing for the Automotive sectors, thereby aiding the transformation in the industry.</p><h4 class="header-with-anchor-widget" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; -webkit-font-smoothing: antialiased; background-color: white; color: #404040; font-family: var(--font_family_headings, var(--font_family_headings_preset, 'SF Compact Display', -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Helvetica, Arial, sans-serif, 'Apple Color Emoji', 'Segoe UI Emoji', 'Segoe UI Symbol')); font-size: 1.125em; font-weight: var(--font_weight_headings_preset, bold); line-height: 1.16em; margin: 1em 0px 0.625em; position: relative;">Healthcare:<div class="header-anchor-widget offset-top" id="§healthcare" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; height: 24.7875px; left: -56px; position: absolute; top: -72px; width: 56px;"><div class="header-anchor-widget-button-container" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; display: flex; height: 1.2em; left: 0px; position: absolute; top: 72px; width: 40px;"><div class="header-anchor-widget-button" href="https://intelsense.substack.com/i/126572029/healthcare" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; border-radius: 50%; cursor: pointer; display: flex; height: 40px; justify-content: center; opacity: 0; width: 40px;"><svg class="header-anchor-widget-icon" fill="none" height="20" stroke-linecap="round" stroke-linejoin="round" stroke-width="2" stroke="currentColor" viewbox="0 0 24 24" width="20" xmlns="http://www.w3.org/2000/svg"><path d="M10 13a5 5 0 0 0 7.54.54l3-3a5 5 0 0 0-7.07-7.07l-1.72 1.71"></path><path d="M14 11a5 5 0 0 0-7.54-.54l-3 3a5 5 0 0 0 7.07 7.07l1.71-1.71"></path></svg></div></div></div></h4><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">Centum has engineered a variety of medical devices and equipment for the Healthcare industry that include digital radiography systems, automated pumps for drug injection, ultrasound equipment, patient monitoring devices and customized room controls for operation theatres among others.</p><h4 class="header-with-anchor-widget" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; -webkit-font-smoothing: antialiased; background-color: white; color: #404040; font-family: var(--font_family_headings, var(--font_family_headings_preset, 'SF Compact Display', -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Helvetica, Arial, sans-serif, 'Apple Color Emoji', 'Segoe UI Emoji', 'Segoe UI Symbol')); font-size: 1.125em; font-weight: var(--font_weight_headings_preset, bold); line-height: 1.16em; margin: 1em 0px 0.625em; position: relative;">Industrial and energy:<div class="header-anchor-widget offset-top" id="§industrial-and-energy" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; height: 24.7875px; left: -56px; position: absolute; top: -72px; width: 56px;"><div class="header-anchor-widget-button-container" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; display: flex; height: 1.2em; left: 0px; position: absolute; top: 72px; width: 40px;"><div class="header-anchor-widget-button" href="https://intelsense.substack.com/i/126572029/industrial-and-energy" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; border-radius: 50%; cursor: pointer; display: flex; height: 40px; justify-content: center; opacity: 0; width: 40px;"><svg class="header-anchor-widget-icon" fill="none" height="20" stroke-linecap="round" stroke-linejoin="round" stroke-width="2" stroke="currentColor" viewbox="0 0 24 24" width="20" xmlns="http://www.w3.org/2000/svg"><path d="M10 13a5 5 0 0 0 7.54.54l3-3a5 5 0 0 0-7.07-7.07l-1.72 1.71"></path><path d="M14 11a5 5 0 0 0-7.54-.54l-3 3a5 5 0 0 0 7.07 7.07l1.71-1.71"></path></svg></div></div></div></h4><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">The digital transformation in utilities, infrastructure and manufacturing among other industrial segments is driving new products that are smart, collaborative and result in efficiencies for end-users. Centum enables its customer to realize such products for applications in automation, control and measurement and energy among others.</p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">The company’s expertise in energy conversion and storage technology has helped customers develop customized Microgrid solutions as well as new solutions for railway infrastructure projects.</p><h3 class="header-with-anchor-widget" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; -webkit-font-smoothing: antialiased; background-color: white; color: #404040; font-family: var(--font_family_headings, var(--font_family_headings_preset, 'SF Compact Display', -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Helvetica, Arial, sans-serif, 'Apple Color Emoji', 'Segoe UI Emoji', 'Segoe UI Symbol')); font-size: 1.375em; font-weight: var(--font_weight_headings_preset, bold); line-height: 1.16em; margin: 1em 0px 0.625em; position: relative;">Financials<div class="header-anchor-widget offset-top" id="§financials" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; height: 30.3px; left: -56px; position: absolute; top: -72px; width: 56px;"><div class="header-anchor-widget-button-container" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; display: flex; height: 1.2em; left: 0px; position: absolute; top: 72px; width: 40px;"><div class="header-anchor-widget-button" href="https://intelsense.substack.com/i/126572029/financials" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; border-radius: 50%; cursor: pointer; display: flex; height: 40px; justify-content: center; opacity: 0; width: 40px;"><svg class="header-anchor-widget-icon" fill="none" height="20" stroke-linecap="round" stroke-linejoin="round" stroke-width="2" stroke="currentColor" viewbox="0 0 24 24" width="20" xmlns="http://www.w3.org/2000/svg"><path d="M10 13a5 5 0 0 0 7.54.54l3-3a5 5 0 0 0-7.07-7.07l-1.72 1.71"></path><path d="M14 11a5 5 0 0 0-7.54-.54l-3 3a5 5 0 0 0 7.07 7.07l1.71-1.71"></path></svg></div></div></div></h3><div class="captioned-image-container" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; margin: var(--size-32) auto;"><figure style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; margin: 0px auto; width: 728px;"><a class="image-link is-viewable-img image2" data-component-name="Image2ToDOM" href="https://substackcdn.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F842af362-6875-4184-bc8e-869b643bad9c_677x347.png" rel="" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; border: 0px; cursor: zoom-in; display: flex; flex-direction: column; height: auto; margin: 0px auto; padding: 0px; position: relative; text-decoration-line: none; width: auto;" target="_blank"><div class="image2-inset" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; display: flex; position: relative;"><picture style="--tw-ring-color: rgb(59 130 246 / 0.5); 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opacity: 0; position: absolute; right: var(--size-12); top: var(--size-12); transition: all var(--animation-timing-fast) var(--animation-smoothing); width: var(--size-32);"><svg class="lucide lucide-maximize2" fill="none" height="16" stroke-linecap="round" stroke-linejoin="round" stroke-width="2" stroke="#FFFFFF" viewbox="0 0 24 24" width="16" xmlns="http://www.w3.org/2000/svg"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></div></div></a></figure></div><div style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px;"><hr style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background: var(--color-detail-themed); border: 0px; height: 1px; margin: var(--size-32) 0; padding: 0px;" /></div><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><span></span></p><!--more--><p></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><strong style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;">DISCLAIMER:</strong></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">Investments in the securities market are subject to market risks. Read all the related documents carefully before investing.</p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><br /></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><span style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;">SEBI Registered Research Analyst - </span><strong style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;">Registration Number: INH300006607</strong></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><strong style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;"><br /></strong></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">Registration granted by SEBI and certification from NISM in no way guarantee the performance of the intermediary or provide any assurance of returns to investors.</p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><br /></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><a href="https://www.intelsense.in/" rel="" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; text-decoration-line: none;">https://www.intelsense.in</a></p><div><br /></div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-5297910739720462639.post-2331715950153463762023-05-22T03:59:00.000-07:002023-05-22T03:59:02.207-07:00MTAR Technologies: Stock Story<p><span style="background-color: white; color: var(--print_secondary, var(--print_secondary_on_web_bg_color, var(--print_secondary, var(--color-secondary)))); font-family: var(--font_family_headings, var(--font_family_headings_preset, 'SF Compact Display', -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Helvetica, Arial, sans-serif, 'Apple Color Emoji', 'Segoe UI Emoji', 'Segoe UI Symbol')); font-size: var(--font-size-18);">At Intelsense we regularly study interesting businesses. We keep profiling them. The idea is to keep learning and expanding our knowledge base.</span></p><p><span></span></p><a name='more'></a><p></p><h3 class="header-with-anchor-widget" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; -webkit-font-smoothing: antialiased; background-color: white; color: #404040; font-family: var(--font_family_headings, var(--font_family_headings_preset, 'SF Compact Display', -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Helvetica, Arial, sans-serif, 'Apple Color Emoji', 'Segoe UI Emoji', 'Segoe UI Symbol')); font-size: 1.375em; font-weight: var(--font_weight_headings_preset, bold); line-height: 1.16em; margin: 0px 0px 0.625em; position: relative;">Business Overview<div class="header-anchor-widget offset-top" id="§business-overview" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; height: 30.3px; left: -56px; position: absolute; top: -72px; width: 56px;"><div class="header-anchor-widget-button-container" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; display: flex; height: 1.2em; left: 0px; position: absolute; top: 72px; width: 40px;"><div class="header-anchor-widget-button" href="https://intelsense.substack.com/i/121500621/business-overview" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; border-radius: 50%; cursor: pointer; display: flex; height: 40px; justify-content: center; opacity: 0; width: 40px;"><svg class="header-anchor-widget-icon" fill="none" height="20" stroke-linecap="round" stroke-linejoin="round" stroke-width="2" stroke="currentColor" viewbox="0 0 24 24" width="20" xmlns="http://www.w3.org/2000/svg"><path d="M10 13a5 5 0 0 0 7.54.54l3-3a5 5 0 0 0-7.07-7.07l-1.72 1.71"></path><path d="M14 11a5 5 0 0 0-7.54-.54l-3 3a5 5 0 0 0 7.07 7.07l1.71-1.71"></path></svg></div></div></div></h3><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">MTAR Technologies Limited (MTL) started as a partnership firm in 1970 and was incorporated as a private limited company in 1999 by the Late P. Ravindra Reddy, Sri K. Satyanarayana Reddy and Sri P. Jayaprakash Reddy. The company was publicly listed on the exchanges in March 2021. </p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><br /></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">The company has six manufacturing units, including an EOU in Hyderabad, and has recently started a new unit at Adibatla. The key product portfolio of the company includes critical assemblies such as:</p><ul style="text-align: left;"><li><span style="background-color: white; color: var(--print_on_web_bg_color, var(--color-primary)); font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px;">Liquid propulsion engines to GSLV Mark III </span></li><li><span style="background-color: white; color: var(--print_on_web_bg_color, var(--color-primary)); font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px;">Base Shroud Assembly & Airframes for Agni programs </span></li><li><span style="background-color: white; color: var(--print_on_web_bg_color, var(--color-primary)); font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px;">Actuators for LCA </span></li><li><span style="background-color: white; color: var(--print_on_web_bg_color, var(--color-primary)); font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px;">Power units for fuel cells </span></li><li>Fuel machining head, Bridge & Column, Thimble Package, Drive Mechanisms etc. to the core of the nuclear reactor.</li></ul><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; box-sizing: border-box; color: var(--print_on_web_bg_color, var(--color-primary)); font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0px; padding-left: var(--size-4); text-align: left;"></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">Some of the clients of the company are ISRO, NPCIL, DRDO, Bloom Energy, Rafael and Elbit among others. Over the years, the company has also developed import substitutes such as ball screws and water-lubricated bearings that are highly specialized and premium products in Nuclear, Space and Defence.</p><h3 class="header-with-anchor-widget" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; -webkit-font-smoothing: antialiased; background-color: white; color: #404040; font-family: var(--font_family_headings, var(--font_family_headings_preset, 'SF Compact Display', -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Helvetica, Arial, sans-serif, 'Apple Color Emoji', 'Segoe UI Emoji', 'Segoe UI Symbol')); font-size: 1.375em; font-weight: var(--font_weight_headings_preset, bold); line-height: 1.16em; margin: 1em 0px 0.625em; position: relative;">Business Offerings:<div class="header-anchor-widget offset-top" id="§business-offerings" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; height: 30.3px; left: -56px; position: absolute; top: -72px; width: 56px;"><div class="header-anchor-widget-button-container" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; display: flex; height: 1.2em; left: 0px; position: absolute; top: 72px; width: 40px;"><div class="header-anchor-widget-button" href="https://intelsense.substack.com/i/121500621/business-offerings" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; border-radius: 50%; cursor: pointer; display: flex; height: 40px; justify-content: center; opacity: 0; width: 40px;"><svg class="header-anchor-widget-icon" fill="none" height="20" stroke-linecap="round" stroke-linejoin="round" stroke-width="2" stroke="currentColor" viewbox="0 0 24 24" width="20" xmlns="http://www.w3.org/2000/svg"><path d="M10 13a5 5 0 0 0 7.54.54l3-3a5 5 0 0 0-7.07-7.07l-1.72 1.71"></path><path d="M14 11a5 5 0 0 0-7.54-.54l-3 3a5 5 0 0 0 7.07 7.07l1.71-1.71"></path></svg></div></div></div></h3><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><strong style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;">Hot Boxes (for Bloom Energy):</strong><span style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;"> Manufacturing of power units, specifically hot boxes, hydrogen boxes and electrolysers for the clean energy sector.</span></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><span style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;"><br /></span></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><strong style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;">Nuclear Reactor Assemblies (for NPCIL)</strong><span style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;">: Fuel machining head, drive mechanisms, bridge and column and coolant channel assemblies for the new pressurised heavy water nuclear reactors, as well as for refurbishment of the existing reactors.</span></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><span style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;"><br /></span></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><strong style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;">Space Launch Vehicle Components (for ISRO):</strong><span style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;"> Liquid propulsion engines, components and assemblies for cryogenic engines, specifically turbo pumps, booster pumps, gas generators and injector heads for such engines, and electro-pneumatic modules to serve ISRO’s space launch vehicles.</span></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><span style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;"><br /></span></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><strong style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;">Defence Components (For DRDO)</strong><span style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;">: Base shroud assembly (for Agni missiles), and the assembly of secondary injection thrust vector control (“SITVC”) valves and hydraulic fin tip control (“HFTC”) valves. In addition, MTAR also exports critical defence components to Rafael and Elbit.</span></p><blockquote style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; border-left: var(--size-4) solid var(--background_pop); color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; margin: var(--size-20) 0; padding: 0px;"></blockquote><h3 class="header-with-anchor-widget" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; -webkit-font-smoothing: antialiased; background-color: white; color: #404040; font-family: var(--font_family_headings, var(--font_family_headings_preset, 'SF Compact Display', -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Helvetica, Arial, sans-serif, 'Apple Color Emoji', 'Segoe UI Emoji', 'Segoe UI Symbol')); font-size: 1.375em; font-weight: var(--font_weight_headings_preset, bold); line-height: 1.16em; margin: 1em 0px 0.625em; position: relative;">Industry Analysis<div class="header-anchor-widget offset-top" id="§industry-analysis" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; height: 30.3px; left: -56px; position: absolute; top: -72px; width: 56px;"><div class="header-anchor-widget-button-container" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; display: flex; height: 1.2em; left: 0px; position: absolute; top: 72px; width: 40px;"><div class="header-anchor-widget-button" href="https://intelsense.substack.com/i/121500621/industry-analysis" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; border-radius: 50%; cursor: pointer; display: flex; height: 40px; justify-content: center; opacity: 0; width: 40px;"><svg class="header-anchor-widget-icon" fill="none" height="20" stroke-linecap="round" stroke-linejoin="round" stroke-width="2" stroke="currentColor" viewbox="0 0 24 24" width="20" xmlns="http://www.w3.org/2000/svg"><path d="M10 13a5 5 0 0 0 7.54.54l3-3a5 5 0 0 0-7.07-7.07l-1.72 1.71"></path><path d="M14 11a5 5 0 0 0-7.54-.54l-3 3a5 5 0 0 0 7.07 7.07l1.71-1.71"></path></svg></div></div></div></h3><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><strong style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;">Nuclear Industry</strong></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">The nuclear equipment industry in India is set to grow rapidly with the government sharpening its focus on the sector. NPCIL is expected to roll out tenders for 14 reactors (planned expansion market) in the near to medium term in a phased manner. </p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><br /></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">The total investment for building these reactors would be Rs 1,76,000-1,80,000 crs. Of this, Rs 35,000-43,500 crs would be the equipment market. This growing market opportunity in civil nuclear power is expected to increase opportunities for domestic suppliers present in this sector. </p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><br /></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">With rising contract volume, while new entrants would plan to make in-roads into the industry, high entry barriers, especially in technology, reliability, and manufacturing capability, will give an edge to the established players like MTAR Technologies.</p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><br /></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">MTAR caters to 20-25% equipment portion of the overall order for a 700 MWe PHWR nuclear plant. The company supplies 14 different pieces of equipment to the nuclear island, which translates into an addressable market opportunity size of Rs. 700-800 crs per reactor. The total equipment addressable opportunity for MTAR stands at Rs. 7000-8000 crs over the next decade from fleet reactor orders.</p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><br /></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">MTAR has facilities to address orders from 4 reactors at a time. The Company's ability to manufacture and supply specialized products for the new pressurized heavy water nuclear reactors and refurbishment of the existing reactors enables it to address the massive opportunity available in the civil nuclear power sector.</p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><br /></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><strong style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;">Clean Energy- Fuel Cells</strong></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">A fuel cell uses the chemical energy of hydrogen or another fuel to produce electricity. Fuel cells provide power for systems as large as a utility power station and as small as a laptop. Fuel cells function like batteries, but do not run down or need recharging. These produce electricity and heat as long as fuel is supplied. </p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><br /></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">In volume terms or megawatt installation, the fuel cell industry is expected to grow strongly at 35-40% CAGR over the next five years while cost is expected to decline by 15-20% during the same period. In value terms, it is expected to grow at 14.0-15.0% between 2020 and 2025 with the increase in volume and decline in cost</p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><br /></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">In the clean energy segment, MTAR caters to Bloom Energy USA, a market leader in the stationary fuel cell segment. Bloom Energy’s sales are larger than those of the next six players combined in the fuel cell space; the industry posted a 40% CAGR in the past four years (annual installations of 1GW in 2019). The industry is expected to witness a 35% CAGR over the next 10 year</p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><br /></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">The total opportunity size from hydrogen fuel cells is estimated at USD 300 Bn; including other areas such as the US C&I market and international expansion, the total opportunity is estimated at more than USD 2 Trn. Bloom Energy is targeting 25-30% CAGR over CY20-25E</p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><br /></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">MTAR is one of the key suppliers to Bloom Energy and the sole supplier from India for SOFC & hydrogen units and electrolysers as of FY 2021-22. The Company has 9 years of relationship with Bloom Energy. MTAR caters to 50% - 60% of its typical hotbox requirement and has a 100% compliance record with it. </p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><strong style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;"><br /></strong></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><strong style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;">Space Equipment</strong></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">The satellite manufacturing and launch systems market in India is estimated to reach Rs 4600 – 4800 crs by 2025, at a CAGR of 7-8% in the forecast period.</p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">India’s satellite launch services are highly cost-competitive and reliable. The launch rate success of PSLV is 96%. From FY 17 - FY 21, ISRO launched satellites from more than 26 countries. Commercial arrangement contracts with 10 countries have been signed. </p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><br /></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">MTAR has been a trusted supplier to ISRO for the past four decades. It has proven capabilities in manufacturing high-tech products for PSLV, GSLV and SSLV, like liquid propulsion rocket engines (Vikas Engine for PSLV), cryogenic engines, electro-pneumatic modules etc.</p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><br /></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">An increase in launches from ISRO over the coming years is expected to provide an increased inflow of orders to MTAR. Furthermore, the new sheet metal facility shall enable the company to increase its wallet share. MTAR has initiated the design and development of a Two-Stage to Low Earth Orbit Small Satellite Launch vehicle - Garuda 1. The Company seeks to develop 100-ton and 10-ton all-liquid engines in-house and intends to take the support of IN-SPACe for procurement of Avionics, and marketing support.</p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><br /></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">The budget for the Department of Space in FY 23 is Rs 12,544 crs. It is estimated that the space budget will attain a value of Rs 18500-19000 crs by FY25 on account of planned and proposed missions. The launches of ISRO are expected to be accelerated from FY 23. There could be 30-35 missions by ISRO spread over the next two years. </p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><br /></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">Due to regulations, the commercial segment of this industry is virtually non-existent. The proposed policies have changed the outlook for the commercial segment. The commercial segment is expected to reach Rs 8-9 billion by FY25.</p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><strong style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;"><br /></strong></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><strong style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;">Defence Equipment</strong></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">The Indian defence sector is currently focused on the indigenisation of various defence technologies in view of the recent GoI announcements made on the indigenisation of 108 systems and sub-systems. Recently, the Defence Ministry announced 101 major pieces of defence equipment that the Ministry of Defence (MoD) will no longer clear for import. The 101 items embargoed for import today were preceded by two earlier lists: The first list of 101 items was promulgated on August 21, 2020; and a second list of 108 items was announced on May 31, 2021.</p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><br /></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">The defence sector is expected to grow further because of the emphasis on national security amidst geo-political tensions like the Russia-Ukraine crisis. There is a high need for self-reliance under the current geo-political scenario.</p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><br /></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">MTAR is present in the niche areas of Defence. They have supplied 5-ton and 10-ton actuators to the LCA Tejas program. The Company has successfully delivered the first articles of roller screws that are currently being imported from Rollviz Sweden. MTAR is also developing electro-mechanical actuators.</p><h3 class="header-with-anchor-widget" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; -webkit-font-smoothing: antialiased; background-color: white; color: #404040; font-family: var(--font_family_headings, var(--font_family_headings_preset, 'SF Compact Display', -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Helvetica, Arial, sans-serif, 'Apple Color Emoji', 'Segoe UI Emoji', 'Segoe UI Symbol')); font-size: 1.375em; font-weight: var(--font_weight_headings_preset, bold); line-height: 1.16em; margin: 1em 0px 0.625em; position: relative;">Growth Drivers of the Industry<div class="header-anchor-widget offset-top" id="§growth-drivers-of-the-industry" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; height: 30.3px; left: -56px; position: absolute; top: -72px; width: 56px;"><div class="header-anchor-widget-button-container" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; display: flex; height: 1.2em; left: 0px; position: absolute; top: 72px; width: 40px;"><div class="header-anchor-widget-button" href="https://intelsense.substack.com/i/121500621/growth-drivers-of-the-industry" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; border-radius: 50%; cursor: pointer; display: flex; height: 40px; justify-content: center; opacity: 0; width: 40px;"><svg class="header-anchor-widget-icon" fill="none" height="20" stroke-linecap="round" stroke-linejoin="round" stroke-width="2" stroke="currentColor" viewbox="0 0 24 24" width="20" xmlns="http://www.w3.org/2000/svg"><path d="M10 13a5 5 0 0 0 7.54.54l3-3a5 5 0 0 0-7.07-7.07l-1.72 1.71"></path><path d="M14 11a5 5 0 0 0-7.54-.54l-3 3a5 5 0 0 0 7.07 7.07l1.71-1.71"></path></svg></div></div></div></h3><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><strong style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;">Increased electricity demand from Nuclear Sources:</strong><span style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;"> One of the major growth drivers for India’s nuclear programme is the consistently increasing demand for electricity. With rising carbon neutrality goals and targets, India is focusing on clean power generation through renewables and nuclear technology.</span></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><strong style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;"><br /></strong></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><strong style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;">Government plans to triple nuclear capacity by 2031: </strong><span style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;">The government plans to increase nuclear capacity from 6.7 GWe to 22.4 GWe by 2031. Accordingly, it has sanctioned the manufacture of 10 pressurised heavy water reactors (PHWR) in fleet mode (10 x 700MW) with a combined generation capacity of 7 GWe.</span></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><strong style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;"><br /></strong></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><strong style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;">Growing Demand for fuel cells for achieving a distributed power generation network:</strong><span style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;"> Energy storage is supporting this distributed grid system, with high efficiencies and more distributed power sources thereby increasing the demand for fuel cells.</span></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><strong style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;"><br /></strong></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><strong style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;">Increased demand for electrolysers</strong><span style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;">: Electrolysers or reformers for sourcing hydrogen are essential to transition from a Hydrocarbon based economy to a Hydrogen based economy. The increased demand for Green Hydrogen augurs well for the company </span></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><strong style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;"><br /></strong></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><strong style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;">Opening up of Space Sector for Private Players</strong><span style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;">: Improving participation from private players is the key agenda for the government. A step in this direction is the establishment of an outreach unit aimed at geospatial application at the National Remote Sensing Centre. To boost innovation and research in the domestic industry, the government aims to establish 12 space technology incubation centres. </span></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><strong style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;"><br /></strong></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><strong style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;">Government focus on Technology Transfer:</strong><span style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;"> ISRO has initiated a transfer of technology (ToT) with regard to small satellites in order to support new space start-ups. In the near term, there is an expected surge in demand for SSLVs, which can install the satellite in the LEO. Rising satellite demand will, in turn, result in more opportunities for in-orbit upgrades and repairs.</span></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><strong style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;"><br /></strong></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><strong style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;">Deal with IN-Space</strong><span style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;">: Indian National Space Promotion and Authorisation Centre (IN-SPACe) has been established which will assume the role of a facilitator and regulator. It will liaison between private players and ISRO to ensure optimum use of the space agency’s infrastructure, scientific and technical resources and data on space missions. MTAR Technologies has signed a pact with IN-SPACe India to design and develop a two-stage to low-earth orbit all-liquid small satellite launch vehicle.</span></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><strong style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;"><br /></strong></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><strong style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;">Thrust on Import Substitution in Defence Sector: </strong><span style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;">Government of India is emphasising import substitution. MTAR has submitted the first articles of roller screws which are currently being imported from Sweden; import substitution is expected to provide substantial opportunity in this area. Additionally, the company is working on the development of electro-mechanical actuators and won Rs. 72 Mn orders in FY 2021-22, which are expected to be executed in FY 2022-23</span></p><h3 class="header-with-anchor-widget" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; -webkit-font-smoothing: antialiased; background-color: white; color: #404040; font-family: var(--font_family_headings, var(--font_family_headings_preset, 'SF Compact Display', -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Helvetica, Arial, sans-serif, 'Apple Color Emoji', 'Segoe UI Emoji', 'Segoe UI Symbol')); font-size: 1.375em; font-weight: var(--font_weight_headings_preset, bold); line-height: 1.16em; margin: 1em 0px 0.625em; position: relative;">Management<div class="header-anchor-widget offset-top" id="§management" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; height: 30.3px; left: -56px; position: absolute; top: -72px; width: 56px;"><div class="header-anchor-widget-button-container" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; display: flex; height: 1.2em; left: 0px; position: absolute; top: 72px; width: 40px;"><div class="header-anchor-widget-button" href="https://intelsense.substack.com/i/121500621/management" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; border-radius: 50%; cursor: pointer; display: flex; height: 40px; justify-content: center; opacity: 0; width: 40px;"><svg class="header-anchor-widget-icon" fill="none" height="20" stroke-linecap="round" stroke-linejoin="round" stroke-width="2" stroke="currentColor" viewbox="0 0 24 24" width="20" xmlns="http://www.w3.org/2000/svg"><path d="M10 13a5 5 0 0 0 7.54.54l3-3a5 5 0 0 0-7.07-7.07l-1.72 1.71"></path><path d="M14 11a5 5 0 0 0-7.54-.54l-3 3a5 5 0 0 0 7.07 7.07l1.71-1.71"></path></svg></div></div></div></h3><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">The promoters own close to about 46% stake in the company. DIIs own the next largest share of approximately 27.57% of the business with low ownership of FIIs of about 2.51%. Retail/Public shareholding is 23%.</p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><br /></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">Mr Parvat Srinivas Reddy is the Managing Director on the board of our Company. Having nearly three decades of industry experience in Manufacturing and Construction. He has been associated with MTAR for the past 13 years. He holds a Bachelor’s degree in Industrial Production engineering, from the University of Mysore and a Master’s degree in Science, specialising in industrial engineering from the College of Engineering, Louisiana Tech University. </p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><br /></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">The company has several distinguished industry veterans on its board as Independent Directors –</p><ul style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; margin-top: 0px; padding: 0px;"><li style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; margin: var(--size-8) 0 0 var(--size-32);"><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; box-sizing: border-box; color: var(--print_on_web_bg_color, var(--color-primary)); line-height: 1.6em; margin: 0px; padding-left: var(--size-4);">Mr Udaymitra Chandrakant Muktibodh – who has held key positions such as the Technical Director of NPCIL and was also a member of the board of NPCIL</p></li><li style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; margin: var(--size-8) 0 0 var(--size-32);"><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; box-sizing: border-box; color: var(--print_on_web_bg_color, var(--color-primary)); line-height: 1.6em; margin: 0px; padding-left: var(--size-4);">Mr Vedachalam Nagarajan – who has held several key positions at ISRO and was even decorated with the “Yuri Gagarin Gold Medal with a citation” in 2004 for ISRO-Russia cooperation in cryogenic rocket propulsion</p></li><li style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; margin: var(--size-8) 0 0 var(--size-32);"><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; box-sizing: border-box; color: var(--print_on_web_bg_color, var(--color-primary)); line-height: 1.6em; margin: 0px; padding-left: var(--size-4);">Dr Gnana Sekaran Venkatasamy – is an eminent Missile Scientist and the Chief Designer of the Long-Range Ballistic Missile System AGNI 5. He was the Chief Controller of R&D (Missiles & Strategic Systems at DRDO.</p></li></ul><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">The company has appointed Raja Sheker Bollampally as Chief Operating Officer who had earlier in his career worked at – Bloom Energy, Ohmium. Under his able leadership and experience from his past associations, MTAR is expected to begin its new leg of growth. </p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><br /></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">The average employee tenure in the Company was approximately 12 years with a modest attrition rate of 7.2% even during the pandemic.</p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><br /></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">The company is respected for its technical know-how gained over the past five decades. This has been derived from a foundation of more than 1,740 employees including contract employees; 24 were employed in the R&D department in FY 2021-22. </p><h3 class="header-with-anchor-widget" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; -webkit-font-smoothing: antialiased; background-color: white; color: #404040; font-family: var(--font_family_headings, var(--font_family_headings_preset, 'SF Compact Display', -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Helvetica, Arial, sans-serif, 'Apple Color Emoji', 'Segoe UI Emoji', 'Segoe UI Symbol')); font-size: 1.375em; font-weight: var(--font_weight_headings_preset, bold); line-height: 1.16em; margin: 1em 0px 0.625em; position: relative;">Business Opportunities<div class="header-anchor-widget offset-top" id="§business-opportunities" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; height: 30.3px; left: -56px; position: absolute; top: -72px; width: 56px;"><div class="header-anchor-widget-button-container" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; display: flex; height: 1.2em; left: 0px; position: absolute; top: 72px; width: 40px;"><div class="header-anchor-widget-button" href="https://intelsense.substack.com/i/121500621/business-opportunities" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; border-radius: 50%; cursor: pointer; display: flex; height: 40px; justify-content: center; opacity: 0; width: 40px;"><svg class="header-anchor-widget-icon" fill="none" height="20" stroke-linecap="round" stroke-linejoin="round" stroke-width="2" stroke="currentColor" viewbox="0 0 24 24" width="20" xmlns="http://www.w3.org/2000/svg"><path d="M10 13a5 5 0 0 0 7.54.54l3-3a5 5 0 0 0-7.07-7.07l-1.72 1.71"></path><path d="M14 11a5 5 0 0 0-7.54-.54l-3 3a5 5 0 0 0 7.07 7.07l1.71-1.71"></path></svg></div></div></div></h3><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">MTAR is gradually transitioning from precision Engineering towards system integration it established new capabilities such as electronics manufacturing for this purpose MTAR has been declared L1 for tenders worth Rs. 135 Cr approx. in tenders for the upcoming nuclear reactors.</p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><br /></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">The company has started working on the design of valves, which has immense market potential in Defence. Received orders for First Articles.</p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><br /></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">MTAR is in the process of developing the Semi Cryo Engine, the next generation of liquid propulsion engines, that enhances the payload carrying capacity of GSLV Mark III from 4 tons to 6 tons. The first engine is expected to be rolled out by FY 24.</p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><br /></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">Indigenizing bellows for fuel cells that were being imported to achieve better realizations. The company has got qualified for bellows and production has commenced.</p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><br /></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">The company has initiated the development process for heaters, which are currently being imported.</p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><br /></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">The company is looking to increase our wallet share with ISRO by addressing opportunities including thrust chambers, light alloy structures, motor casings etc.</p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><br /></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">MTAR is contributing to the ‘Atma-Nirbhar Bharat’ initiative by developing import substitutes and new products such as roller screws, actuation systems, valves etc</p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">MTAR is looking to diversify its client base to reduce dependency on Bloom Energy accordingly, the company has added new customers such as Andritz, Voith and Worldwide Oil Machine; and is in discussions with various global MNCs including IAI, Thales, BlueBird Aero Systems, GE Hydro, Enercon etc.</p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><br /></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">MTAR has acquired Gee Pee Aerospace to enhance its capacity in bottleneck areas to address the increased volume of orders from MNCs.</p><h3 class="header-with-anchor-widget" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; -webkit-font-smoothing: antialiased; background-color: white; color: #404040; font-family: var(--font_family_headings, var(--font_family_headings_preset, 'SF Compact Display', -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Helvetica, Arial, sans-serif, 'Apple Color Emoji', 'Segoe UI Emoji', 'Segoe UI Symbol')); font-size: 1.375em; font-weight: var(--font_weight_headings_preset, bold); line-height: 1.16em; margin: 1em 0px 0.625em; position: relative;">Risks<div class="header-anchor-widget offset-top" id="§risks" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; height: 30.3px; left: -56px; position: absolute; top: -72px; width: 56px;"><div class="header-anchor-widget-button-container" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; display: flex; height: 1.2em; left: 0px; position: absolute; top: 72px; width: 40px;"><div class="header-anchor-widget-button" href="https://intelsense.substack.com/i/121500621/risks" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; border-radius: 50%; cursor: pointer; display: flex; height: 40px; justify-content: center; opacity: 0; width: 40px;"><svg class="header-anchor-widget-icon" fill="none" height="20" stroke-linecap="round" stroke-linejoin="round" stroke-width="2" stroke="currentColor" viewbox="0 0 24 24" width="20" xmlns="http://www.w3.org/2000/svg"><path d="M10 13a5 5 0 0 0 7.54.54l3-3a5 5 0 0 0-7.07-7.07l-1.72 1.71"></path><path d="M14 11a5 5 0 0 0-7.54-.54l-3 3a5 5 0 0 0 7.07 7.07l1.71-1.71"></path></svg></div></div></div></h3><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">Customer Concentration Risk– More than 80-85% of the revenue comes from a single company Bloom Energy. </p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><br /></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">Supply Chain Risk – The Company doesn’t have any long-term contracts with any of our raw material suppliers.</p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><br /></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">Stringent Regulations and Quality control compliance – MTAR operates in an industry with stringent regulations such as Space and Defence and almost all of its customers require MTAR to adhere to strict Quality Control norms and compliances.</p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><br /></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">Working capital-intensive operations – The operations of the company are highly capital-intensive and the cash conversion cycle has been increasing for the past several years. </p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><br /></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">RM price, availability and forex fluctuations – The company is susceptible to fluctuations in the price of its Raw materials and forex rates. Availability of Raw Materials is essential for the timely delivery of goods and delays can impact the working capital cycle for the company.</p><h3 class="header-with-anchor-widget" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; -webkit-font-smoothing: antialiased; background-color: white; color: #404040; font-family: var(--font_family_headings, var(--font_family_headings_preset, 'SF Compact Display', -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Helvetica, Arial, sans-serif, 'Apple Color Emoji', 'Segoe UI Emoji', 'Segoe UI Symbol')); font-size: 1.375em; font-weight: var(--font_weight_headings_preset, bold); line-height: 1.16em; margin: 1em 0px 0.625em; position: relative;"><strong style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;">FINANCIALS</strong><div class="header-anchor-widget offset-top" id="§financials" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; height: 30.3px; left: -56px; position: absolute; top: -72px; width: 56px;"><div class="header-anchor-widget-button-container" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; display: flex; height: 1.2em; left: 0px; position: absolute; top: 72px; width: 40px;"><div class="header-anchor-widget-button" href="https://intelsense.substack.com/i/121500621/financials" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; border-radius: 50%; cursor: pointer; display: flex; height: 40px; justify-content: center; opacity: 0; width: 40px;"><svg class="header-anchor-widget-icon" fill="none" height="20" stroke-linecap="round" stroke-linejoin="round" stroke-width="2" stroke="currentColor" viewbox="0 0 24 24" width="20" xmlns="http://www.w3.org/2000/svg"><path d="M10 13a5 5 0 0 0 7.54.54l3-3a5 5 0 0 0-7.07-7.07l-1.72 1.71"></path><path d="M14 11a5 5 0 0 0-7.54-.54l-3 3a5 5 0 0 0 7.07 7.07l1.71-1.71"></path></svg></div></div></div></h3><div class="captioned-image-container" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; 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--tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; border: 0px; cursor: zoom-in; display: flex; flex-direction: column; height: auto; margin: 0px auto; padding: 0px; position: relative; text-decoration-line: none; width: auto;" target="_blank"><div class="image2-inset" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; display: flex; position: relative;"><picture style="--tw-ring-color: rgb(59 130 246 / 0.5); 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--tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;" type="image/webp"></source><img alt="" class="sizing-normal" data-attrs="{"src":"https://substack-post-media.s3.amazonaws.com/public/images/198003aa-886c-4f7a-bf95-8e4de59fb2e2_868x475.png","fullscreen":null,"imageSize":null,"height":475,"width":868,"resizeWidth":null,"bytes":57671,"alt":null,"title":null,"type":"image/png","href":null,"belowTheFold":true,"topImage":false,"internalRedirect":null}" height="475" loading="lazy" sizes="100vw" src="https://substackcdn.com/image/fetch/w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F198003aa-886c-4f7a-bf95-8e4de59fb2e2_868x475.png" srcset="https://substackcdn.com/image/fetch/w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F198003aa-886c-4f7a-bf95-8e4de59fb2e2_868x475.png 424w, https://substackcdn.com/image/fetch/w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F198003aa-886c-4f7a-bf95-8e4de59fb2e2_868x475.png 848w, https://substackcdn.com/image/fetch/w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F198003aa-886c-4f7a-bf95-8e4de59fb2e2_868x475.png 1272w, https://substackcdn.com/image/fetch/w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F198003aa-886c-4f7a-bf95-8e4de59fb2e2_868x475.png 1456w" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; display: block; height: auto; margin: 0px auto; max-width: 100%;" width="868" /></picture></div></a></figure></div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-5297910739720462639.post-12511744691049682682023-05-05T00:02:00.003-07:002023-05-05T00:02:31.730-07:00Curiosity@Intelsense<p> </p><div class="captioned-image-container" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; margin-top: 0px;"><figure style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; margin: 0px auto; width: 728px;"><a class="image-link is-viewable-img image2" href="https://substackcdn.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fe61585c9-75cf-4ccc-b60c-2efbc35e5fc0_1600x900.png" rel="" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; border: 0px; cursor: zoom-in; display: flex; flex-direction: column; height: auto; margin: 0px auto; padding: 0px; position: relative; text-decoration-line: none; width: auto;" target="_blank"><div class="image2-inset" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; display: flex; position: relative;"><picture style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;"><img alt="" class="sizing-normal" data-attrs="{"src":"https://substack-post-media.s3.amazonaws.com/public/images/e61585c9-75cf-4ccc-b60c-2efbc35e5fc0_1600x900.png","fullscreen":null,"imageSize":null,"height":819,"width":1456,"resizeWidth":446,"bytes":557023,"alt":null,"title":null,"type":"image/png","href":null,"belowTheFold":false,"internalRedirect":null}" height="250.875" sizes="100vw" src="https://substackcdn.com/image/fetch/w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fe61585c9-75cf-4ccc-b60c-2efbc35e5fc0_1600x900.png" srcset="https://substackcdn.com/image/fetch/w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fe61585c9-75cf-4ccc-b60c-2efbc35e5fc0_1600x900.png 424w, https://substackcdn.com/image/fetch/w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fe61585c9-75cf-4ccc-b60c-2efbc35e5fc0_1600x900.png 848w, https://substackcdn.com/image/fetch/w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fe61585c9-75cf-4ccc-b60c-2efbc35e5fc0_1600x900.png 1272w, https://substackcdn.com/image/fetch/w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fe61585c9-75cf-4ccc-b60c-2efbc35e5fc0_1600x900.png 1456w" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; display: block; height: auto; margin: 0px auto; max-width: 100%;" width="446" /></picture><div class="image-link-expand" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; background: var(--color-bg-modal); border-radius: 4px; cursor: pointer; display: flex; height: var(--size-32); justify-content: center; opacity: 0; position: absolute; right: var(--size-12); top: var(--size-12); transition: all var(--animation-timing-fast) var(--animation-smoothing); width: var(--size-32);"><svg class="lucide lucide-maximize2" fill="none" height="16" stroke-linecap="round" stroke-linejoin="round" stroke-width="2" stroke="#FFFFFF" viewbox="0 0 24 24" width="16" xmlns="http://www.w3.org/2000/svg"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></div></div></a></figure></div><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><br /></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">This week I will deviate from the set pattern. I will start with a video.</p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><br /></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">I would recommend you view this multiple times. It is only about 17 mins so even if you watch it 4 times, it will be roughly an hour.</p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><br /></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">Some of the greatest advice for investors from one of the best investors ever.</p><div class="youtube-wrap" data-attrs="{"videoId":"dXxWajc-tgI","startTime":null,"endTime":null}" id="youtube2-dXxWajc-tgI" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; position: relative;"><div class="youtube-inner" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; box-sizing: border-box; height: 0px; margin: 1.6em 0px; padding-top: 409.5px; position: relative; width: 728px;"><iframe allow="autoplay; fullscreen" allowautoplay="true" allowfullscreen="true" frameborder="0" gesture="media" height="409" loading="lazy" src="https://www.youtube-nocookie.com/embed/dXxWajc-tgI?rel=0&autoplay=0&showinfo=0&enablejsapi=0" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: #f7f7f7; display: block; height: 409.5px; left: 0px; margin: 0px; padding: 0px; position: absolute; top: 0px; width: 728px;" width="728"></iframe></div></div><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">Let me highlight some of the key concepts he has spoken about and try to articulate why they are critical.</p><h3 class="header-with-anchor-widget" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; -webkit-font-smoothing: subpixel-antialiased; background-color: white; color: #404040; font-family: var(--font_family_headings, var(--font_family_headings_preset, 'SF Compact Display', -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Helvetica, Arial, sans-serif, 'Apple Color Emoji', 'Segoe UI Emoji', 'Segoe UI Symbol')); font-size: 1.375em; font-weight: var(--font_weight_headings_preset, bold); line-height: 1.16em; margin: 1em 0px 0.625em; position: relative;">Invest, then investigate<div class="header-anchor-widget offset-top" id="§invest-then-investigate" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; height: 30.3px; left: -56px; position: absolute; top: -72px; width: 56px;"><div class="header-anchor-widget-button-container" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; display: flex; height: 1.2em; left: 0px; position: absolute; top: 72px; width: 40px;"><div class="header-anchor-widget-button" href="https://intelsense.substack.com/i/118479840/invest-then-investigate" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; border-radius: 50%; cursor: pointer; display: flex; height: 40px; justify-content: center; opacity: 0; width: 40px;"><svg class="header-anchor-widget-icon" fill="none" height="20" stroke-linecap="round" stroke-linejoin="round" stroke-width="2" stroke="currentColor" viewbox="0 0 24 24" width="20" xmlns="http://www.w3.org/2000/svg"><path d="M10 13a5 5 0 0 0 7.54.54l3-3a5 5 0 0 0-7.07-7.07l-1.72 1.71"></path><path d="M14 11a5 5 0 0 0-7.54-.54l-3 3a5 5 0 0 0 7.07 7.07l1.71-1.71"></path></svg></div></div></div></h3><blockquote style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; border-left: var(--size-4) solid var(--background_pop); color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; margin: var(--size-20) 0; padding: 0px;"><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; color: var(--print_on_web_bg_color, var(--color-primary)); line-height: 1.6em; margin-left: var(--size-20);"><strong style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;"></strong></p><blockquote><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; color: var(--print_on_web_bg_color, var(--color-primary)); line-height: 1.6em; margin-left: var(--size-20);"><strong style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;">If I get an idea and I think it’s attractive for whatever reason . . . I generally go ahead and buy it, and then tell the analysts to poke holes in it and if it turns out I was wrong I get out. I don’t like to wait around.</strong></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; color: var(--print_on_web_bg_color, var(--color-primary)); line-height: 1.6em; margin-left: var(--size-20);"><span style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;">I’m not that smart. </span><strong style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;">If I’ve seen whatever is going on, someone else might have seen it, and by the time we’re done analysing it I might have missed 30-40 per cent of the move. We’re in the camp where if we get a strong feeling we’ll cut the analysis short, and then by all means do our analysis and unload it if turns out my thesis was wrong.</strong></p></blockquote><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; color: var(--print_on_web_bg_color, var(--color-primary)); line-height: 1.6em; margin-left: var(--size-20);"><strong style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;"></strong></p></blockquote><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">Markets have become very fast and cycles have become shorter, so the time you get to evaluate a business or an opportunity also has dwindled phenomenally. Sometimes, you need to “invest and then investigate” (as Rakesh Jhunjhunwala famously said). You can always sell if on detailed analysis you find that your thesis was wrong.</p><h3 class="header-with-anchor-widget" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; -webkit-font-smoothing: subpixel-antialiased; background-color: white; color: #404040; font-family: var(--font_family_headings, var(--font_family_headings_preset, 'SF Compact Display', -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Helvetica, Arial, sans-serif, 'Apple Color Emoji', 'Segoe UI Emoji', 'Segoe UI Symbol')); font-size: 1.375em; font-weight: var(--font_weight_headings_preset, bold); line-height: 1.16em; margin: 1em 0px 0.625em; position: relative;">Look for disconfirming evidence<div class="header-anchor-widget offset-top" id="§look-for-disconfirming-evidence" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; height: 30.3px; left: -56px; position: absolute; top: -72px; width: 56px;"><div class="header-anchor-widget-button-container" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; display: flex; height: 1.2em; left: 0px; position: absolute; top: 72px; width: 40px;"><div class="header-anchor-widget-button" href="https://intelsense.substack.com/i/118479840/look-for-disconfirming-evidence" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; border-radius: 50%; cursor: pointer; display: flex; height: 40px; justify-content: center; opacity: 0; width: 40px;"><svg class="header-anchor-widget-icon" fill="none" height="20" stroke-linecap="round" stroke-linejoin="round" stroke-width="2" stroke="currentColor" viewbox="0 0 24 24" width="20" xmlns="http://www.w3.org/2000/svg"><path d="M10 13a5 5 0 0 0 7.54.54l3-3a5 5 0 0 0-7.07-7.07l-1.72 1.71"></path><path d="M14 11a5 5 0 0 0-7.54-.54l-3 3a5 5 0 0 0 7.07 7.07l1.71-1.71"></path></svg></div></div></div></h3><blockquote style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; border-left: var(--size-4) solid var(--background_pop); color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; margin: var(--size-20) 0; padding: 0px;"><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; color: var(--print_on_web_bg_color, var(--color-primary)); line-height: 1.6em; margin-left: var(--size-20);"></p><blockquote>I try to have young people around me who are not afraid to speak their minds and argue with me. If someone has been here too long and agrees with everything I say they’re not going to be here much longer. I need healthy debate.</blockquote><p></p></blockquote><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">Most times we get enamoured by our own successes and stop looking for flaws in our own reasoning. It is always beneficial to run off your ideas with someone who you trust and who is skilled enough. This is also perhaps one reason that great investors or traders have hunted in pairs or in small groups.</p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">In my personal life, I have also gained tremendously from bouncing off my ideas with a few close investor friends (all of whom are actually better investors than me).</p><h3 class="header-with-anchor-widget" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; -webkit-font-smoothing: subpixel-antialiased; background-color: white; color: #404040; font-family: var(--font_family_headings, var(--font_family_headings_preset, 'SF Compact Display', -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Helvetica, Arial, sans-serif, 'Apple Color Emoji', 'Segoe UI Emoji', 'Segoe UI Symbol')); font-size: 1.375em; font-weight: var(--font_weight_headings_preset, bold); line-height: 1.16em; margin: 1em 0px 0.625em; position: relative;">Don’t lose money<div class="header-anchor-widget offset-top" id="§dont-lose-money" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; height: 30.3px; left: -56px; position: absolute; top: -72px; width: 56px;"><div class="header-anchor-widget-button-container" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; display: flex; height: 1.2em; left: 0px; position: absolute; top: 72px; width: 40px;"><div class="header-anchor-widget-button" href="https://intelsense.substack.com/i/118479840/dont-lose-money" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; border-radius: 50%; cursor: pointer; display: flex; height: 40px; justify-content: center; opacity: 0; width: 40px;"><svg class="header-anchor-widget-icon" fill="none" height="20" stroke-linecap="round" stroke-linejoin="round" stroke-width="2" stroke="currentColor" viewbox="0 0 24 24" width="20" xmlns="http://www.w3.org/2000/svg"><path d="M10 13a5 5 0 0 0 7.54.54l3-3a5 5 0 0 0-7.07-7.07l-1.72 1.71"></path><path d="M14 11a5 5 0 0 0-7.54-.54l-3 3a5 5 0 0 0 7.07 7.07l1.71-1.71"></path></svg></div></div></div></h3><blockquote style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; border-left: var(--size-4) solid var(--background_pop); color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; margin: var(--size-20) 0; padding: 0px;"><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; color: var(--print_on_web_bg_color, var(--color-primary)); line-height: 1.6em; margin-left: var(--size-20);"><span style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;"></span></p><blockquote><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; color: var(--print_on_web_bg_color, var(--color-primary)); line-height: 1.6em; margin-left: var(--size-20);"><span style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;">If you go down 50, you gotta go back a hundred to get it back to even. </span><strong style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;">And I've always thought the way to build a long-term track record is when you really see the ball, swing really big. And when you don't see the ball, don't swing.</strong></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; color: var(--print_on_web_bg_color, var(--color-primary)); line-height: 1.6em; margin-left: var(--size-20);">And if you can build a record and when your terrible years, you're up zero to five, and then throw a couple of fifties and sixties in, the numbers look pretty good over time. If you make a bunch of 30s and then you lose 55 or 60%, you got a long, long way back. It's just the way the numbers work.</p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; color: var(--print_on_web_bg_color, var(--color-primary)); line-height: 1.6em; margin-left: var(--size-20);">And also I'm a sore loser. I don't like to lose so that kind of helps out too.</p></blockquote><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; color: var(--print_on_web_bg_color, var(--color-primary)); line-height: 1.6em; margin-left: var(--size-20);"></p></blockquote><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">This is also similar to Buffett's advice of waiting for the fat pitch. In cricketing parlance, it is better to wait for the full toss on the leg stump to hit it out of the ground.</p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">The other lesson here is to focus on reducing the big mistakes and protecting the downside. Big losses make it extremely difficult to get back even because the numbers just make it so difficult.</p><h3 class="header-with-anchor-widget" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; -webkit-font-smoothing: subpixel-antialiased; background-color: white; color: #404040; font-family: var(--font_family_headings, var(--font_family_headings_preset, 'SF Compact Display', -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Helvetica, Arial, sans-serif, 'Apple Color Emoji', 'Segoe UI Emoji', 'Segoe UI Symbol')); font-size: 1.375em; font-weight: var(--font_weight_headings_preset, bold); line-height: 1.16em; margin: 1em 0px 0.625em; position: relative;">Use Technofunda<div class="header-anchor-widget offset-top" id="§use-technofunda" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; height: 30.3px; left: -56px; position: absolute; top: -72px; width: 56px;"><div class="header-anchor-widget-button-container" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; display: flex; height: 1.2em; left: 0px; position: absolute; top: 72px; width: 40px;"><div class="header-anchor-widget-button" href="https://intelsense.substack.com/i/118479840/use-technofunda" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; border-radius: 50%; cursor: pointer; display: flex; height: 40px; justify-content: center; opacity: 0; width: 40px;"><svg class="header-anchor-widget-icon" fill="none" height="20" stroke-linecap="round" stroke-linejoin="round" stroke-width="2" stroke="currentColor" viewbox="0 0 24 24" width="20" xmlns="http://www.w3.org/2000/svg"><path d="M10 13a5 5 0 0 0 7.54.54l3-3a5 5 0 0 0-7.07-7.07l-1.72 1.71"></path><path d="M14 11a5 5 0 0 0-7.54-.54l-3 3a5 5 0 0 0 7.07 7.07l1.71-1.71"></path></svg></div></div></div></h3><blockquote style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; border-left: var(--size-4) solid var(--background_pop); color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; margin: var(--size-20) 0; padding: 0px;"><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; color: var(--print_on_web_bg_color, var(--color-primary)); line-height: 1.6em; margin-left: var(--size-20);"></p><blockquote><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; color: var(--print_on_web_bg_color, var(--color-primary)); line-height: 1.6em; margin-left: var(--size-20);">I started in the seventies and my mentor turned out to be a chartist. And, I still use that (a) to find things others may not be looking at because we use the rate of change, stuff that tends to lead. And (b) if I do take a big position, it's a great check on me not falling in love with security or falling in love with my idea.</p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; color: var(--print_on_web_bg_color, var(--color-primary)); line-height: 1.6em; margin-left: var(--size-20);">You can always find 20 stocks that have a good chart and a good fundamental story. So if either one didn't fit, I wouldn't do it.</p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; color: var(--print_on_web_bg_color, var(--color-primary)); line-height: 1.6em; margin-left: var(--size-20);">So, the technical provides a discipline on the fundamental and the fundamental provides a discipline on the technical.</p></blockquote><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; color: var(--print_on_web_bg_color, var(--color-primary)); line-height: 1.6em; margin-left: var(--size-20);"></p></blockquote><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">I have been investing for the last 23 years and this is a realisation that I came to in the last five years. You need both fundamental and technical factors to be in your favour for the really big winners.</p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><br /></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><span style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;">That is what I try to do now. </span><a href="https://intelsense.in/" rel="" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; text-decoration-line: none;">Hitpicks</a><span style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;"> and </span><a href="https://intelsense.smallcase.com/smallcase/INSMO_0005" rel="" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; text-decoration-line: none;">Quiver</a><span style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;"> are testaments to this.</span></p><blockquote style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; border-left: var(--size-4) solid var(--background_pop); color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; margin: var(--size-20) 0; padding: 0px;"><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; color: var(--print_on_web_bg_color, var(--color-primary)); line-height: 1.6em; margin-left: var(--size-20);">If I've got a thesis and it's really bullish and it's playing out and the stock's not going anywhere, makes me go back and check the thesis over and over.</p></blockquote><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><span style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;">The technicals have to align with the fundamentals. Ultimately, unless the stock price goes up, everything else is immaterial </span><em style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;">(Bhav Bhagwan Hai!!)</em></p><h3 class="header-with-anchor-widget" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; -webkit-font-smoothing: subpixel-antialiased; background-color: white; color: #404040; font-family: var(--font_family_headings, var(--font_family_headings_preset, 'SF Compact Display', -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Helvetica, Arial, sans-serif, 'Apple Color Emoji', 'Segoe UI Emoji', 'Segoe UI Symbol')); font-size: 1.375em; font-weight: var(--font_weight_headings_preset, bold); line-height: 1.16em; margin: 1em 0px 0.625em; position: relative;">The future as always will be interesting<div class="header-anchor-widget offset-top" id="§the-future-as-always-will-be-interesting" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; height: 30.3px; left: -56px; position: absolute; top: -72px; width: 56px;"><div class="header-anchor-widget-button-container" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; display: flex; height: 1.2em; left: 0px; position: absolute; top: 72px; width: 40px;"><div class="header-anchor-widget-button" href="https://intelsense.substack.com/i/118479840/the-future-as-always-will-be-interesting" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; border-radius: 50%; cursor: pointer; display: flex; height: 40px; justify-content: center; opacity: 0; width: 40px;"><svg class="header-anchor-widget-icon" fill="none" height="20" stroke-linecap="round" stroke-linejoin="round" stroke-width="2" stroke="currentColor" viewbox="0 0 24 24" width="20" xmlns="http://www.w3.org/2000/svg"><path d="M10 13a5 5 0 0 0 7.54.54l3-3a5 5 0 0 0-7.07-7.07l-1.72 1.71"></path><path d="M14 11a5 5 0 0 0-7.54-.54l-3 3a5 5 0 0 0 7.07 7.07l1.71-1.71"></path></svg></div></div></div></h3><blockquote style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; border-left: var(--size-4) solid var(--background_pop); color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; margin: var(--size-20) 0; padding: 0px;"><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; color: var(--print_on_web_bg_color, var(--color-primary)); line-height: 1.6em; margin-left: var(--size-20);"></p><blockquote><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; color: var(--print_on_web_bg_color, var(--color-primary)); line-height: 1.6em; margin-left: var(--size-20);">I wouldn't be surprised if the stock market was not higher in 10 years. I still believe that, but I do think like the '68 to ' 82 period, we'll have some big swings. So I think the way to make money in the next two years in the equity space is to be patient because I do think we have possibly some rough roads ahead. And I do think the central bank will respond in some crazy way that will give you a period like '70 to '72 where you can make money, or '76 to '78 when you could have made a lot of money. And also for me at least, I think the currency markets are very interesting, but I think this is a movie I've never seen anything.</p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; color: var(--print_on_web_bg_color, var(--color-primary)); line-height: 1.6em; margin-left: var(--size-20);">So I'm gonna be very careful not to dig myself in a hole when I don't have a strong belief to come out because I think the opportunities are gonna be amazing as this movie unfolds in the next year in macro and in equities.</p></blockquote><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; color: var(--print_on_web_bg_color, var(--color-primary)); line-height: 1.6em; margin-left: var(--size-20);"></p></blockquote><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">He is speaking about the US markets. I am more optimistic about the Indian markets. I think we have shrugged off a large number of problems in the last 5 years and although valuations are not rock bottom, they are not very high as well.</p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">If the RBI pauses or starts reducing rates, it could trigger a rally.</p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">The one thing I worry about is the “robinhoodisation” of options trading in India. There are way too many people with very little knowledge or capital doing option selling these days in search of regular income. Trends like these never end well. And sometimes, they tend to take a lot of others down with them as well.</p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><br /></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">This was all I had for today. Let me know your thoughts and comments.</p><span><a name='more'></a></span><div style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px;"><br /><hr style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background: var(--color-detail-themed); border: 0px; height: 1px; margin: var(--size-32) 0; padding: 0px;" /></div><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">NOTE: Investments in the securities market are subject to market risks. Read all the related documents carefully before investing.</p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin-bottom: 0px;">This post has been written by Abhishek Basumallick, SEBI Registered Research Analyst, Registration Number: INH300006607.</p>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-5297910739720462639.post-34945981290814837872023-02-21T05:54:00.001-08:002023-02-21T05:54:08.486-08:00Hitpicks: The Story So Far...<p><span style="background-color: white; color: var(--print_secondary, var(--print_secondary_on_web_bg_color, var(--print_secondary, var(--color-secondary)))); font-family: var(--font_family_headings, var(--font_family_headings_preset, "SF Compact Display", -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol")); font-size: var(--font-size-18);"><i>Service of the Month: This month we talk about Hitpicks, which is the technofunda based positional trading service from Intelsense.</i></span></p><p><span style="color: var(--print_on_web_bg_color, var(--color-primary)); font-family: var(--font_family_headings, var(--font_family_headings_preset, "SF Compact Display", -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol")); font-size: 1.125em; font-weight: var(--font_weight_headings_preset, bold);">Why Hitpicks?</span></p><div class="container" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; margin: 0px auto; min-width: 280px; overflow-wrap: break-word; width: 728px;"><div class="single-post" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; 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--tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; margin: var(--size-32) auto;"><figure style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; margin: 0px auto; width: 728px;"><a class="image-link image2" href="https://substackcdn.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F89bdef71-3d4f-4972-83ae-d6ded13d4d3b_1024x512.png" rel="" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; 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--tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; display: block; height: auto; margin: 0px auto; max-width: 100%;" width="454" /></picture><div style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;"></div></div></a></figure></div><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; color: var(--print_on_web_bg_color, var(--color-primary)); line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><br /></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; color: var(--print_on_web_bg_color, var(--color-primary)); line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><a href="https://forum.valuepickr.com/u/hitesh2710/" rel="" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; text-decoration-line: none;">Dr Hitesh Patel</a><span style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;"> and I have been working together and collaborating in personal investing for a long time. I have always been a long-term-oriented investor who was more interested in compounding and growth stocks. During my many conversations with Hitesh Bhai (that’s what everyone calls him), I started appreciating the nuances of market dynamics which led me to technical analysis (and subsequently to quantitative analysis, but that’s a story for another day).</span></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; color: var(--print_on_web_bg_color, var(--color-primary)); line-height: 1.6em; margin: 0 0 var(--size-20) 0;">As I kept learning and applying these skills to my own investing, I realised that it is a potent tool for capturing opportunities in the small-to-medium timeframe (a few months to a few quarters).</p><h4 class="header-with-anchor-widget" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; -webkit-font-smoothing: subpixel-antialiased; color: var(--print_on_web_bg_color, var(--color-primary)); font-family: var(--font_family_headings, var(--font_family_headings_preset, "SF Compact Display", -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol")); font-size: 1.125em; font-weight: var(--font_weight_headings_preset, bold); line-height: 1.16em; margin: 1em 0px 0.625em; position: relative;">Foundations of Hitpicks<div class="header-anchor-widget offset-top" id="§foundations-of-hitpicks" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; height: 24.7875px; left: -56px; position: absolute; top: -72px; width: 56px;"><div class="header-anchor-widget-button-container" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; display: flex; height: 1.2em; left: 0px; position: absolute; top: 72px; width: 40px;"><div class="header-anchor-widget-button" href="https://intelsense.substack.com/i/104218706/foundations-of-hitpicks" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; border-radius: 50%; cursor: pointer; display: flex; height: 40px; justify-content: center; opacity: 0; width: 40px;"><svg class="header-anchor-widget-icon" fill="none" height="20" stroke-linecap="round" stroke-linejoin="round" stroke-width="2" stroke="currentColor" viewbox="0 0 24 24" width="20" xmlns="http://www.w3.org/2000/svg"><path d="M10 13a5 5 0 0 0 7.54.54l3-3a5 5 0 0 0-7.07-7.07l-1.72 1.71"></path><path d="M14 11a5 5 0 0 0-7.54-.54l-3 3a5 5 0 0 0 7.07 7.07l1.71-1.71"></path></svg></div></div></div></h4><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; color: var(--print_on_web_bg_color, var(--color-primary)); line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><span style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;">In 2020, as part of my strategy of </span><a href="http://blog.intelsense.in/2020/09/want-smother-ride-diversify-your.html" rel="" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; text-decoration-line: none;">style diversification</a><span style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;">, we launched </span><a href="http://intelsense.in/#!/Hitpicks" rel="" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; text-decoration-line: none;">Hitpicks</a><span style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;"> as part of </span><a href="https://www.intelsense.in/" rel="" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; text-decoration-line: none;">Intelsense.in</a><span style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;">.</span></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; color: var(--print_on_web_bg_color, var(--color-primary)); line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><span style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;"><br /></span></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; color: var(--print_on_web_bg_color, var(--color-primary)); line-height: 1.6em; margin: 0 0 var(--size-20) 0;">The core in any shorter duration “positional trading” has to be based on technical analysis. We brought in an overlay of fundamentals where we look only at fundamentally strong companies for technical chart patterns and breakouts. Transactions will be frequent. This is basically meant for those who have a short-to-medium-term horizon. This was completely different from the traditional buy-and-hold investing approach that we are all used to.</p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; color: var(--print_on_web_bg_color, var(--color-primary)); line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><br /></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; color: var(--print_on_web_bg_color, var(--color-primary)); line-height: 1.6em; margin: 0 0 var(--size-20) 0;">The experience so far has been reasonably good.</p><h4 class="header-with-anchor-widget" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; -webkit-font-smoothing: subpixel-antialiased; color: var(--print_on_web_bg_color, var(--color-primary)); font-family: var(--font_family_headings, var(--font_family_headings_preset, "SF Compact Display", -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol")); font-size: 1.125em; font-weight: var(--font_weight_headings_preset, bold); line-height: 1.16em; margin: 1em 0px 0.625em; position: relative;">Let’s look at some numbers<div class="header-anchor-widget offset-top" id="§lets-look-at-some-numbers" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; height: 24.7875px; left: -56px; position: absolute; top: -72px; width: 56px;"><div class="header-anchor-widget-button-container" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; display: flex; height: 1.2em; left: 0px; position: absolute; top: 72px; width: 40px;"><div class="header-anchor-widget-button" href="https://intelsense.substack.com/i/104218706/lets-look-at-some-numbers" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; border-radius: 50%; cursor: pointer; display: flex; height: 40px; justify-content: center; opacity: 0; width: 40px;"><svg class="header-anchor-widget-icon" fill="none" height="20" stroke-linecap="round" stroke-linejoin="round" stroke-width="2" stroke="currentColor" viewbox="0 0 24 24" width="20" xmlns="http://www.w3.org/2000/svg"><path d="M10 13a5 5 0 0 0 7.54.54l3-3a5 5 0 0 0-7.07-7.07l-1.72 1.71"></path><path d="M14 11a5 5 0 0 0-7.54-.54l-3 3a5 5 0 0 0 7.07 7.07l1.71-1.71"></path></svg></div></div></div></h4><div class="captioned-image-container" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; margin: var(--size-32) auto;"><figure style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; margin: 0px auto; width: 728px;"><a class="image-link is-viewable-img image2" href="https://substackcdn.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F28d977eb-0b5c-4e35-955c-84506bddc262_453x306.png" rel="" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; border: 0px; cursor: zoom-in; display: flex; flex-direction: column; height: auto; margin: 0px auto; padding: 0px; position: relative; text-decoration-line: none; width: auto;" target="_blank"><div class="image2-inset" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; display: flex; position: relative;"><picture style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;"><source sizes="100vw" srcset="https://substackcdn.com/image/fetch/w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F28d977eb-0b5c-4e35-955c-84506bddc262_453x306.png 424w, https://substackcdn.com/image/fetch/w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F28d977eb-0b5c-4e35-955c-84506bddc262_453x306.png 848w, https://substackcdn.com/image/fetch/w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F28d977eb-0b5c-4e35-955c-84506bddc262_453x306.png 1272w, https://substackcdn.com/image/fetch/w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F28d977eb-0b5c-4e35-955c-84506bddc262_453x306.png 1456w" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;" type="image/webp"></source><img alt="" class="sizing-normal" data-attrs="{"src":"https://substack-post-media.s3.amazonaws.com/public/images/28d977eb-0b5c-4e35-955c-84506bddc262_453x306.png","fullscreen":null,"imageSize":null,"height":306,"width":453,"resizeWidth":null,"bytes":19334,"alt":null,"title":null,"type":"image/png","href":null,"belowTheFold":true,"internalRedirect":null}" height="306" loading="lazy" sizes="100vw" src="https://substackcdn.com/image/fetch/w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F28d977eb-0b5c-4e35-955c-84506bddc262_453x306.png" srcset="https://substackcdn.com/image/fetch/w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F28d977eb-0b5c-4e35-955c-84506bddc262_453x306.png 424w, https://substackcdn.com/image/fetch/w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F28d977eb-0b5c-4e35-955c-84506bddc262_453x306.png 848w, https://substackcdn.com/image/fetch/w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F28d977eb-0b5c-4e35-955c-84506bddc262_453x306.png 1272w, https://substackcdn.com/image/fetch/w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F28d977eb-0b5c-4e35-955c-84506bddc262_453x306.png 1456w" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; display: block; height: auto; margin: 0px auto; max-width: 100%;" width="453" /></picture><div class="image-link-expand" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; border-radius: 4px; cursor: pointer; display: flex; height: var(--size-32); justify-content: center; opacity: 0; position: absolute; right: var(--size-12); top: var(--size-12); transition: all var(--animation-timing-fast) var(--animation-smoothing); width: var(--size-32);"><svg class="lucide lucide-maximize2" fill="none" height="16" stroke-linecap="round" stroke-linejoin="round" stroke-width="2" stroke="#FFFFFF" viewbox="0 0 24 24" width="16" xmlns="http://www.w3.org/2000/svg"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></div></div></a></figure></div><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; color: var(--print_on_web_bg_color, var(--color-primary)); line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><br /></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; color: var(--print_on_web_bg_color, var(--color-primary)); line-height: 1.6em; margin: 0 0 var(--size-20) 0;">It is very evident from this that we have been able to capture decent gains when we have been right and limit our losses when we have been wrong.</p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; color: var(--print_on_web_bg_color, var(--color-primary)); line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><br /></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; color: var(--print_on_web_bg_color, var(--color-primary)); line-height: 1.6em; margin: 0 0 var(--size-20) 0;">The holding period is roughly 2.5 months on average though we have gone up to five-seven months on occasion. When the holding period is low, it typically means that we have been stopped out of the position.</p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; color: var(--print_on_web_bg_color, var(--color-primary)); line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><br /></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; color: var(--print_on_web_bg_color, var(--color-primary)); line-height: 1.6em; margin: 0 0 var(--size-20) 0;">And although we don’t have a target number of recommendations in mind and we only recommend a stock when we feel it gives a good risk-reward, the average has been about 7 recommendations per quarter.</p><h4 class="header-with-anchor-widget" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; -webkit-font-smoothing: subpixel-antialiased; color: var(--print_on_web_bg_color, var(--color-primary)); font-family: var(--font_family_headings, var(--font_family_headings_preset, "SF Compact Display", -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol")); font-size: 1.125em; font-weight: var(--font_weight_headings_preset, bold); line-height: 1.16em; margin: 1em 0px 0.625em; position: relative;">The Advantages of Technofunda approach<div class="header-anchor-widget offset-top" id="§the-advantages-of-technofunda-approach" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; height: 24.7875px; left: -56px; position: absolute; top: -72px; width: 56px;"><div class="header-anchor-widget-button-container" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; display: flex; height: 1.2em; left: 0px; position: absolute; top: 72px; width: 40px;"><div class="header-anchor-widget-button" href="https://intelsense.substack.com/i/104218706/the-advantages-of-technofunda-approach" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; border-radius: 50%; cursor: pointer; display: flex; height: 40px; justify-content: center; opacity: 0; width: 40px;"><svg class="header-anchor-widget-icon" fill="none" height="20" stroke-linecap="round" stroke-linejoin="round" stroke-width="2" stroke="currentColor" viewbox="0 0 24 24" width="20" xmlns="http://www.w3.org/2000/svg"><path d="M10 13a5 5 0 0 0 7.54.54l3-3a5 5 0 0 0-7.07-7.07l-1.72 1.71"></path><path d="M14 11a5 5 0 0 0-7.54-.54l-3 3a5 5 0 0 0 7.07 7.07l1.71-1.71"></path></svg></div></div></div></h4><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; color: var(--print_on_web_bg_color, var(--color-primary)); line-height: 1.6em; margin: 0 0 var(--size-20) 0;">Since we have followed a technofunda approach we have been able to steer clear of stocks with poor fundamentals or very high valuations. For example, none of the Adani stocks ever came up in our universe of stocks due to the fundamental filter.</p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; color: var(--print_on_web_bg_color, var(--color-primary)); line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><br /></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; color: var(--print_on_web_bg_color, var(--color-primary)); line-height: 1.6em; margin: 0 0 var(--size-20) 0;">Another major advantage I have seen is when the market overall takes a downturn, because of the individual stop losses being in place, you are forced into cash. There is no need for a lot of market or index-level analysis because your stock holdings tell you what is happening in the market.</p><h4 class="header-with-anchor-widget" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; -webkit-font-smoothing: subpixel-antialiased; color: var(--print_on_web_bg_color, var(--color-primary)); font-family: var(--font_family_headings, var(--font_family_headings_preset, "SF Compact Display", -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol")); font-size: 1.125em; font-weight: var(--font_weight_headings_preset, bold); line-height: 1.16em; margin: 1em 0px 0.625em; position: relative;">The Challenges of Technofunda approach<div class="header-anchor-widget offset-top" id="§the-challenges-of-technofunda-approach" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; height: 24.7875px; left: -56px; position: absolute; top: -72px; width: 56px;"><div class="header-anchor-widget-button-container" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; display: flex; height: 1.2em; left: 0px; position: absolute; top: 72px; width: 40px;"><div class="header-anchor-widget-button" href="https://intelsense.substack.com/i/104218706/the-challenges-of-technofunda-approach" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; border-radius: 50%; cursor: pointer; display: flex; height: 40px; justify-content: center; opacity: 0; width: 40px;"><svg class="header-anchor-widget-icon" fill="none" height="20" stroke-linecap="round" stroke-linejoin="round" stroke-width="2" stroke="currentColor" viewbox="0 0 24 24" width="20" xmlns="http://www.w3.org/2000/svg"><path d="M10 13a5 5 0 0 0 7.54.54l3-3a5 5 0 0 0-7.07-7.07l-1.72 1.71"></path><path d="M14 11a5 5 0 0 0-7.54-.54l-3 3a5 5 0 0 0 7.07 7.07l1.71-1.71"></path></svg></div></div></div></h4><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; color: var(--print_on_web_bg_color, var(--color-primary)); line-height: 1.6em; margin: 0 0 var(--size-20) 0;">As we followed targets based on technical charts, we exited early in a lot of cases. For example, we recommended Balaji Amines at Rs 491 and exited with an 80% profit in a span of two months, a great achievement we thought. However, the stock went onto Rs 4800 levels and became nearly a 10-bagger!!</p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; color: var(--print_on_web_bg_color, var(--color-primary)); line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><br /></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; color: var(--print_on_web_bg_color, var(--color-primary)); line-height: 1.6em; margin: 0 0 var(--size-20) 0;">Similarly, we have had multiple cases where we got stopped out and the stock subsequently went up as per our initial analysis.</p><h4 class="header-with-anchor-widget" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; -webkit-font-smoothing: subpixel-antialiased; color: var(--print_on_web_bg_color, var(--color-primary)); font-family: var(--font_family_headings, var(--font_family_headings_preset, "SF Compact Display", -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol")); font-size: 1.125em; font-weight: var(--font_weight_headings_preset, bold); line-height: 1.16em; margin: 1em 0px 0.625em; position: relative;">Summary<div class="header-anchor-widget offset-top" id="§summary" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; height: 24.7875px; left: -56px; position: absolute; top: -72px; width: 56px;"><div class="header-anchor-widget-button-container" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; display: flex; height: 1.2em; left: 0px; position: absolute; top: 72px; width: 40px;"><div class="header-anchor-widget-button" href="https://intelsense.substack.com/i/104218706/summary" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; border-radius: 50%; cursor: pointer; display: flex; height: 40px; justify-content: center; opacity: 0; width: 40px;"><svg class="header-anchor-widget-icon" fill="none" height="20" stroke-linecap="round" stroke-linejoin="round" stroke-width="2" stroke="currentColor" viewbox="0 0 24 24" width="20" xmlns="http://www.w3.org/2000/svg"><path d="M10 13a5 5 0 0 0 7.54.54l3-3a5 5 0 0 0-7.07-7.07l-1.72 1.71"></path><path d="M14 11a5 5 0 0 0-7.54-.54l-3 3a5 5 0 0 0 7.07 7.07l1.71-1.71"></path></svg></div></div></div></h4><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; color: var(--print_on_web_bg_color, var(--color-primary)); line-height: 1.6em; margin: 0 0 var(--size-20) 0;">Hitpicks has been fairly effective in diversifying away from a long-term buy-and-hold approach. It also provides a steady stream of good stock ideas which are strong fundamentally and attractive technically. Most of the stocks could also very easily be bought and held for longer durations. In turbulent markets, have seen whipsaws, but that I feel is par for the course.</p><div style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;"><hr style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; border: 0px; height: 1px; margin: var(--size-32) 0; padding: 0px;" /></div><p style="--tw-ring-color: rgb(59 130 246 / 0.5); 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--tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; color: var(--print_on_web_bg_color, var(--color-primary)); line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><br /></p></div></div></div></article></div></div><div class="single-post-section comments-section" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px;"><div class="container" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; display: flex; flex-direction: column; gap: 16px; justify-content: flex-start; margin: 16px auto; min-width: 280px; overflow-wrap: break-word; width: 728px;"></div></div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-5297910739720462639.post-47054681438554158562023-02-14T23:05:00.002-08:002023-02-14T23:05:28.889-08:00KP Energy - A Stock Story<p> </p><div class="captioned-image-container" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; margin-top: 0px;"><figure style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; margin: 0px auto; width: 728px;"><a class="image-link image2" href="https://substackcdn.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fcd9b67e0-fca7-4433-829b-df75fa3547e5_545x108.png" rel="" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; border: 0px; display: flex; flex-direction: column; height: auto; margin: 0px auto; padding: 0px; position: relative; text-decoration-line: none; width: auto;" target="_blank"><div class="image2-inset" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; display: flex; position: relative;"><picture style="--tw-ring-color: rgb(59 130 246 / 0.5); 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--tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; display: block; height: auto; margin: 0px auto; max-width: 100%;" width="545" /></picture><div style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;"></div></div></a></figure></div><h4 class="header-with-anchor-widget" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; -webkit-font-smoothing: subpixel-antialiased; background-color: white; color: #404040; font-family: var(--font_family_headings, var(--font_family_headings_preset, "SF Compact Display", -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol")); font-size: 1.125em; font-weight: var(--font_weight_headings_preset, bold); line-height: 1.16em; margin: 1em 0px 0.625em; position: relative;"><div class="header-anchor-widget offset-top" id="§" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; height: 0px; left: -56px; position: absolute; top: -72px; width: 56px;"><div class="header-anchor-widget-button-container" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; display: flex; height: 1.2em; left: 0px; position: absolute; top: 72px; width: 40px;"><div class="header-anchor-widget-button" href="https://intelsense.substack.com/i/102988514/" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; border-radius: 50%; cursor: pointer; display: flex; height: 40px; justify-content: center; opacity: 0; width: 40px;"><svg class="header-anchor-widget-icon" fill="none" height="20" stroke-linecap="round" stroke-linejoin="round" stroke-width="2" stroke="currentColor" viewbox="0 0 24 24" width="20" xmlns="http://www.w3.org/2000/svg"><path d="M10 13a5 5 0 0 0 7.54.54l3-3a5 5 0 0 0-7.07-7.07l-1.72 1.71"></path><path d="M14 11a5 5 0 0 0-7.54-.54l-3 3a5 5 0 0 0 7.07 7.07l1.71-1.71"></path></svg></div></div></div></h4><h4 class="header-with-anchor-widget" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; -webkit-font-smoothing: subpixel-antialiased; background-color: white; color: #404040; font-family: var(--font_family_headings, var(--font_family_headings_preset, "SF Compact Display", -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol")); font-size: 1.125em; font-weight: var(--font_weight_headings_preset, bold); line-height: 1.16em; margin: 1em 0px 0.625em; position: relative;">INDIAN WIND ENERGY OVERVIEW<div class="header-anchor-widget offset-top" id="§indian-wind-energy-overview" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; height: 24.7875px; left: -56px; position: absolute; top: -72px; width: 56px;"><div class="header-anchor-widget-button-container" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; display: flex; height: 1.2em; left: 0px; position: absolute; top: 72px; width: 40px;"><div class="header-anchor-widget-button" href="https://intelsense.substack.com/i/102988514/indian-wind-energy-overview" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; border-radius: 50%; cursor: pointer; display: flex; height: 40px; justify-content: center; opacity: 0; width: 40px;"><svg class="header-anchor-widget-icon" fill="none" height="20" stroke-linecap="round" stroke-linejoin="round" stroke-width="2" stroke="currentColor" viewbox="0 0 24 24" width="20" xmlns="http://www.w3.org/2000/svg"><path d="M10 13a5 5 0 0 0 7.54.54l3-3a5 5 0 0 0-7.07-7.07l-1.72 1.71"></path><path d="M14 11a5 5 0 0 0-7.54-.54l-3 3a5 5 0 0 0 7.07 7.07l1.71-1.71"></path></svg></div></div></div></h4><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">According to the CEA, wind and solar energy are the most prevalent renewable energy sources, aside from large hydroelectric power plants (more than 25 MW). At the end of January 2022, wind energy contributed 38% to India’s total renewable energy capacity.</p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">Wind energy capacity increased at a CAGR of 8.4% from FY14 to FY22.</p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><br /></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">India’s wind energy sector is led by the country’s own Wind Turbine Generators (WTG) manufacturing industry, which has made steady progress over the years. A robust ecosystem, project operation capabilities, and a manufacturing base capable of producing approximately 10,000 MW per year have emerged from the rise of the wind sector. As a result, it achieved a cumulative capacity of around 40 GW in January 2022.</p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><br /></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">The pandemic, and most recently the second wave in India, had undoubtedly impacted the Indian wind energy industry’s performance. Production of wind towers, among other fabrication work, was de-prioritised as oxygen supply for industrial processes was diverted to medical requirements during this phase. However, since the second half of 2021, manufacturing and installation activities have slowly picked up. As a result, over 1.4 GW of wind energy assets are estimated to have been installed (by GWEC), surpassing the 1.1 GW installations from FY21.</p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><br /></p><h4 class="header-with-anchor-widget" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; -webkit-font-smoothing: subpixel-antialiased; background-color: white; color: #404040; font-family: var(--font_family_headings, var(--font_family_headings_preset, "SF Compact Display", -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol")); font-size: 1.125em; font-weight: var(--font_weight_headings_preset, bold); line-height: 1.16em; margin: 1em 0px 0.625em; position: relative;">OFFSHORE WIND DEVELOPMENT IN INDIA:<div class="header-anchor-widget offset-top" id="§offshore-wind-development-in-india" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; height: 24.7875px; left: -56px; position: absolute; top: -72px; width: 56px;"><div class="header-anchor-widget-button-container" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; display: flex; height: 1.2em; left: 0px; position: absolute; top: 72px; width: 40px;"><div class="header-anchor-widget-button" href="https://intelsense.substack.com/i/102988514/offshore-wind-development-in-india" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; border-radius: 50%; cursor: pointer; display: flex; height: 40px; justify-content: center; opacity: 0; width: 40px;"><svg class="header-anchor-widget-icon" fill="none" height="20" stroke-linecap="round" stroke-linejoin="round" stroke-width="2" stroke="currentColor" viewbox="0 0 24 24" width="20" xmlns="http://www.w3.org/2000/svg"><path d="M10 13a5 5 0 0 0 7.54.54l3-3a5 5 0 0 0-7.07-7.07l-1.72 1.71"></path><path d="M14 11a5 5 0 0 0-7.54-.54l-3 3a5 5 0 0 0 7.07 7.07l1.71-1.71"></path></svg></div></div></div></h4><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">India aims to achieve an installation of 450 gigawatts (GW) of renewable energy capacity by 2030 to decarbonise its energy sector while pursuing its commitment to becoming a net-zero country by 2070. Currently, India’s installed renewable energy capacity is 111.39 GW. According to the latest data, India (2021-22), added 15.5 GW of renewable energy capacity with $14.5 billion (Rs11,338.8 crore) investment pouring into the sector.</p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><br /></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">30 GW of the committed capacity is to be achieved exclusively through offshore wind capacity, adding mileage to this sector.</p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><br /></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">India’s 7,600 KM long coastline, which is one of the longest in the world, provides vast potential for offshore wind power asset development in the nation.</p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><br /></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">Beginning from FY23, offshore wind bids to the tune of 4 GW per year (for a period of three years) are expected to be rolled out off the coast of Tamil Nadu and Gujarat for the sale of power through open access, captive, bi-lateral third-party sale, or merchant sale route.</p><h4 class="header-with-anchor-widget" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; -webkit-font-smoothing: subpixel-antialiased; background-color: white; color: #404040; font-family: var(--font_family_headings, var(--font_family_headings_preset, "SF Compact Display", -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol")); font-size: 1.125em; font-weight: var(--font_weight_headings_preset, bold); line-height: 1.16em; margin: 1em 0px 0.625em; position: relative;"><br /></h4><h4 class="header-with-anchor-widget" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; -webkit-font-smoothing: subpixel-antialiased; background-color: white; color: #404040; font-family: var(--font_family_headings, var(--font_family_headings_preset, "SF Compact Display", -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol")); font-size: 1.125em; font-weight: var(--font_weight_headings_preset, bold); line-height: 1.16em; margin: 1em 0px 0.625em; position: relative;">KP Energy - A major player in the wind energy industry<div class="header-anchor-widget offset-top" id="§kp-energy-a-major-player-in-the-wind-energy-industry" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; height: 24.7875px; left: -56px; position: absolute; top: -72px; width: 56px;"><div class="header-anchor-widget-button-container" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; display: flex; height: 1.2em; left: 0px; position: absolute; top: 72px; width: 40px;"><div class="header-anchor-widget-button" href="https://intelsense.substack.com/i/102988514/kp-energy-a-major-player-in-the-wind-energy-industry" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; border-radius: 50%; cursor: pointer; display: flex; height: 40px; justify-content: center; opacity: 0; width: 40px;"><svg class="header-anchor-widget-icon" fill="none" height="20" stroke-linecap="round" stroke-linejoin="round" stroke-width="2" stroke="currentColor" viewbox="0 0 24 24" width="20" xmlns="http://www.w3.org/2000/svg"><path d="M10 13a5 5 0 0 0 7.54.54l3-3a5 5 0 0 0-7.07-7.07l-1.72 1.71"></path><path d="M14 11a5 5 0 0 0-7.54-.54l-3 3a5 5 0 0 0 7.07 7.07l1.71-1.71"></path></svg></div></div></div></h4><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">KP Energy Limited is a leading name in the wind energy industry, providing Balance of Plant (BoP) solutions to its clientele.</p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><br /></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">Its presence is across the entire wind farm development value chain, right from the conceptualisation stage to the commissioning of a project, and thereafter operation and maintenance of the project.</p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><br /></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">KP Energy also plays a critical role in coordinating a wide range of activities related to utility-scale wind farm development.</p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><br /></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">Providing the turnkey balance of plant solutions for the project, including wind site locations, obtaining necessary approvals and development permits, wind data management, etc.</p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><br /></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">The company is a part of KP group which has an established track record of more than two decades in the infrastructure industry. KP Group is engaged in businesses of utility-scale renewable energy projects, microgrid solar projects, construction projects, fabrication & galvanizing and telecom infrastructure (telecom tower & OFC network) through its group companies. Promoted by Faruk Patel and Ashish A Mithani, KPEL is currently managed by Faruk Patel who possesses more than two decades of experience in various industries and around a decade in the wind energy segment. He is ably supported by his son Affan Patel and a team of experienced professionals, forming a strong second line of management for the execution of projects.</p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><br /></p><div class="captioned-image-container" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; 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opacity: 0; position: absolute; right: var(--size-12); top: var(--size-12); transition: all var(--animation-timing-fast) var(--animation-smoothing); width: var(--size-32);"><svg class="lucide lucide-maximize2" fill="none" height="16" stroke-linecap="round" stroke-linejoin="round" stroke-width="2" stroke="#FFFFFF" viewbox="0 0 24 24" width="16" xmlns="http://www.w3.org/2000/svg"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></div></div></a></figure></div><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"></p><h4 class="header-with-anchor-widget" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; -webkit-font-smoothing: subpixel-antialiased; background-color: white; color: #404040; font-family: var(--font_family_headings, var(--font_family_headings_preset, "SF Compact Display", -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol")); font-size: 1.125em; font-weight: var(--font_weight_headings_preset, bold); line-height: 1.16em; margin: 1em 0px 0.625em; position: relative;"><br /></h4><h4 class="header-with-anchor-widget" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; -webkit-font-smoothing: subpixel-antialiased; background-color: white; color: #404040; font-family: var(--font_family_headings, var(--font_family_headings_preset, "SF Compact Display", -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol")); font-size: 1.125em; font-weight: var(--font_weight_headings_preset, bold); line-height: 1.16em; margin: 1em 0px 0.625em; position: relative;">PROJECTS UNDERTAKEN BY KP ENERGY LIMITED:<div class="header-anchor-widget offset-top" id="§projects-undertaken-by-kp-energy-limited" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; height: 24.7875px; left: -56px; position: absolute; top: -72px; width: 56px;"><div class="header-anchor-widget-button-container" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; display: flex; height: 1.2em; left: 0px; position: absolute; top: 72px; width: 40px;"><div class="header-anchor-widget-button" href="https://intelsense.substack.com/i/102988514/projects-undertaken-by-kp-energy-limited" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; border-radius: 50%; cursor: pointer; display: flex; height: 40px; justify-content: center; opacity: 0; width: 40px;"><svg class="header-anchor-widget-icon" fill="none" height="20" stroke-linecap="round" stroke-linejoin="round" stroke-width="2" stroke="currentColor" viewbox="0 0 24 24" width="20" xmlns="http://www.w3.org/2000/svg"><path d="M10 13a5 5 0 0 0 7.54.54l3-3a5 5 0 0 0-7.07-7.07l-1.72 1.71"></path><path d="M14 11a5 5 0 0 0-7.54-.54l-3 3a5 5 0 0 0 7.07 7.07l1.71-1.71"></path></svg></div></div></div></h4><h5 style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; -webkit-font-smoothing: subpixel-antialiased; background-color: white; color: #404040; font-family: var(--font_family_headings, var(--font_family_headings_preset, "SF Compact Display", -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol")); font-weight: var(--font_weight_headings_preset, bold); line-height: 1.16em; margin: 1em 0px 0.625em;">KP Energy to develop wind projects worth ₹222 Cr for Aditya Birla Group:</h5><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><br /></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">KP Energy has bagged an order worth ₹222 crs to develop wind energy projects for Aditya Birla Group with the scheduled commissioning in March 2023.</p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><br /></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">KP Energy stated that it has aligned with Aditya Birla Group to develop the wind power project at Bhungar and Fulsar Site at Mahuva, Bhavnagar, Gujarat, under the Gujarat hybrid power policy 2018.</p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><br /></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">KP Energy will be responsible for providing the turnkey balance of plant solutions for the project, including wind site locations, obtaining necessary approvals and development permits, wind data management, windfarm development works, electrical line network and complete power evacuation capacity from pooling substation to GETCO (Gujarat Energy Transmission Corporation).</p><h5 style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; -webkit-font-smoothing: subpixel-antialiased; background-color: white; color: #404040; font-family: var(--font_family_headings, var(--font_family_headings_preset, "SF Compact Display", -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol")); font-weight: var(--font_weight_headings_preset, bold); line-height: 1.16em; margin: 1em 0px 0.625em;"><br /></h5><h5 style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; -webkit-font-smoothing: subpixel-antialiased; background-color: white; color: #404040; font-family: var(--font_family_headings, var(--font_family_headings_preset, "SF Compact Display", -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol")); font-weight: var(--font_weight_headings_preset, bold); line-height: 1.16em; margin: 1em 0px 0.625em;">GADHSISA PROJECT - 300 MW:</h5><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">In this project, the implementation of the contract provisions, deliverables and pending tasks have been completed and the company has also received the work completion certificate. As per the agreed-upon timelines and conditions, precedents are in progress, and they expect to complete the project in Q1FY23. Moreover, this will help the Company to optimise its liabilities and focus on its growth avenues.</p><h5 style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; -webkit-font-smoothing: subpixel-antialiased; background-color: white; color: #404040; font-family: var(--font_family_headings, var(--font_family_headings_preset, "SF Compact Display", -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol")); font-weight: var(--font_weight_headings_preset, bold); line-height: 1.16em; margin: 1em 0px 0.625em;"><br /></h5><h5 style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; -webkit-font-smoothing: subpixel-antialiased; background-color: white; color: #404040; font-family: var(--font_family_headings, var(--font_family_headings_preset, "SF Compact Display", -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol")); font-weight: var(--font_weight_headings_preset, bold); line-height: 1.16em; margin: 1em 0px 0.625em;">MAHUVA - I PROJECT</h5><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">KP Energy has commissioned this 15.3 MW project for a captive power consumer at the Mahuva Site well within the timelines. Despite a slight delay in WTG delivery, they were still able to commission this project in the shortest record time of four months due to their preparedness in the Balance of Plant activities which included area development, making access roads, laying foundations and a 33kv internal line network.</p><h5 style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; -webkit-font-smoothing: subpixel-antialiased; background-color: white; color: #404040; font-family: var(--font_family_headings, var(--font_family_headings_preset, "SF Compact Display", -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol")); font-weight: var(--font_weight_headings_preset, bold); line-height: 1.16em; margin: 1em 0px 0.625em;"><br /></h5><h5 style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; -webkit-font-smoothing: subpixel-antialiased; background-color: white; color: #404040; font-family: var(--font_family_headings, var(--font_family_headings_preset, "SF Compact Display", -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol")); font-weight: var(--font_weight_headings_preset, bold); line-height: 1.16em; margin: 1em 0px 0.625em;">KP Energy Developed 251 MW Wind Project in Gujarat for CLP India:</h5><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">KP Energy Limited had tied up with CLP India, one of the largest foreign investors in the Indian power sector to develop a 250.8 MV wind project in Dwarka in Gujarat.</p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><br /></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">KP Energy will be responsible for providing the turnkey balance of plant solutions for the project, including wind site locations, obtaining necessary approvals and development permits, wind data management and windfarm development works.</p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><br /></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">The company will also take responsibility to complete the power evacuation infrastructure comprising 220 kV dedicated lines and a pooling substation at Sidhpur in Dwarka.</p><h4 class="header-with-anchor-widget" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; -webkit-font-smoothing: subpixel-antialiased; background-color: white; color: #404040; font-family: var(--font_family_headings, var(--font_family_headings_preset, "SF Compact Display", -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol")); font-size: 1.125em; font-weight: var(--font_weight_headings_preset, bold); line-height: 1.16em; margin: 1em 0px 0.625em; position: relative;"><br /></h4><h4 class="header-with-anchor-widget" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; -webkit-font-smoothing: subpixel-antialiased; background-color: white; color: #404040; font-family: var(--font_family_headings, var(--font_family_headings_preset, "SF Compact Display", -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol")); font-size: 1.125em; font-weight: var(--font_weight_headings_preset, bold); line-height: 1.16em; margin: 1em 0px 0.625em; position: relative;">BUSINESS MODEL:<div class="header-anchor-widget offset-top" id="§business-model" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; height: 24.7875px; left: -56px; position: absolute; top: -72px; width: 56px;"><div class="header-anchor-widget-button-container" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; display: flex; height: 1.2em; left: 0px; position: absolute; top: 72px; width: 40px;"><div class="header-anchor-widget-button" href="https://intelsense.substack.com/i/102988514/business-model" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; border-radius: 50%; cursor: pointer; display: flex; height: 40px; justify-content: center; opacity: 0; width: 40px;"><svg class="header-anchor-widget-icon" fill="none" height="20" stroke-linecap="round" stroke-linejoin="round" stroke-width="2" stroke="currentColor" viewbox="0 0 24 24" width="20" xmlns="http://www.w3.org/2000/svg"><path d="M10 13a5 5 0 0 0 7.54.54l3-3a5 5 0 0 0-7.07-7.07l-1.72 1.71"></path><path d="M14 11a5 5 0 0 0-7.54-.54l-3 3a5 5 0 0 0 7.07 7.07l1.71-1.71"></path></svg></div></div></div></h4><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">A well-balanced combination of three business segments; namely</p><h5 style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; -webkit-font-smoothing: subpixel-antialiased; background-color: white; color: #404040; font-family: var(--font_family_headings, var(--font_family_headings_preset, "SF Compact Display", -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol")); font-weight: var(--font_weight_headings_preset, bold); line-height: 1.16em; margin: 1em 0px 0.625em;">1. Project Based Revenue Engineering, Procurement, Construction and Commissioning (EPCC):</h5><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">Their competence in the sector is because of:</p><ul style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; margin-top: 0px; padding: 0px;"><li style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; margin: var(--size-8) 0 0 var(--size-32);"><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; box-sizing: border-box; color: var(--print_on_web_bg_color, var(--color-primary)); line-height: 1.6em; margin-bottom: 0px; padding-left: var(--size-4);"><strong style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;">SITE IDENTIFICATION & ACQUISITION</strong></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; box-sizing: border-box; color: var(--print_on_web_bg_color, var(--color-primary)); line-height: 1.6em; margin-bottom: 0px; padding-left: var(--size-4);">Their key competence is identifying and acquiring good windy sites for utility-scale wind farms.</p></li><li style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; margin: var(--size-8) 0 0 var(--size-32);"><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; box-sizing: border-box; color: var(--print_on_web_bg_color, var(--color-primary)); line-height: 1.6em; margin-bottom: 0px; padding-left: var(--size-4);"><strong style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;">SITE PREPARATION</strong></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; box-sizing: border-box; color: var(--print_on_web_bg_color, var(--color-primary)); line-height: 1.6em; margin-bottom: 0px; padding-left: var(--size-4);">They construct access roads and fetch ROWs in tough and challenging situations.</p></li><li style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; margin: var(--size-8) 0 0 var(--size-32);"><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; box-sizing: border-box; color: var(--print_on_web_bg_color, var(--color-primary)); line-height: 1.6em; margin-bottom: 0px; padding-left: var(--size-4);"><strong style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;">CONSTRUCTION & ERECTION</strong></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; box-sizing: border-box; color: var(--print_on_web_bg_color, var(--color-primary)); line-height: 1.6em; margin-bottom: 0px; padding-left: var(--size-4);">WTG civil foundation, 33kv USS &amp; internal network as well as logistics, installation & erection of WTG.</p></li><li style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; margin: var(--size-8) 0 0 var(--size-32);"><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; box-sizing: border-box; color: var(--print_on_web_bg_color, var(--color-primary)); line-height: 1.6em; margin-bottom: 0px; padding-left: var(--size-4);"><strong style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;">POWER EVACUATION</strong></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; box-sizing: border-box; color: var(--print_on_web_bg_color, var(--color-primary)); line-height: 1.6em; margin-bottom: 0px; padding-left: var(--size-4);">They undertake EPCC of 33/66 & 33/220 KV wind farm pooling substation and EHV lines.</p></li><li style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; margin: var(--size-8) 0 0 var(--size-32);"><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; box-sizing: border-box; color: var(--print_on_web_bg_color, var(--color-primary)); line-height: 1.6em; margin-bottom: 0px; padding-left: var(--size-4);"><strong style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;">PERMITS & APPROVALS</strong></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; box-sizing: border-box; color: var(--print_on_web_bg_color, var(--color-primary)); line-height: 1.6em; margin-bottom: 0px; padding-left: var(--size-4);">They obtain all requisite permits & approvals from government authorities for the project execution and its operational life.</p></li></ul><h5 style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; -webkit-font-smoothing: subpixel-antialiased; background-color: white; color: #404040; font-family: var(--font_family_headings, var(--font_family_headings_preset, "SF Compact Display", -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol")); font-weight: var(--font_weight_headings_preset, bold); line-height: 1.16em; margin: 1em 0px 0.625em;">2. Operations and Maintenance (O&M):</h5><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">KPEL undertakes O&M services for the BOP portion of its projects so that its clients don’t have to engage in the same. Energized wind assets are maintained for smooth functioning over their lifecycle.</p><h5 style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; -webkit-font-smoothing: subpixel-antialiased; background-color: white; color: #404040; font-family: var(--font_family_headings, var(--font_family_headings_preset, "SF Compact Display", -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol")); font-weight: var(--font_weight_headings_preset, bold); line-height: 1.16em; margin: 1em 0px 0.625em;">3. Independent Power Producers (IPP):</h5><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">KP Energy has its own power generation assets of 8.4 MW (4*2.1 MW) capacity at its own wind farms which is a recurring, annuity revenue stream for the company. It provides stability of cash flows in periods with lower capacity additions.</p><h4 class="header-with-anchor-widget" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; -webkit-font-smoothing: subpixel-antialiased; background-color: white; color: #404040; font-family: var(--font_family_headings, var(--font_family_headings_preset, "SF Compact Display", -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol")); font-size: 1.125em; font-weight: var(--font_weight_headings_preset, bold); line-height: 1.16em; margin: 1em 0px 0.625em; position: relative;"><br /></h4><h4 class="header-with-anchor-widget" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; -webkit-font-smoothing: subpixel-antialiased; background-color: white; color: #404040; font-family: var(--font_family_headings, var(--font_family_headings_preset, "SF Compact Display", -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol")); font-size: 1.125em; font-weight: var(--font_weight_headings_preset, bold); line-height: 1.16em; margin: 1em 0px 0.625em; position: relative;">Growth Strategy of the Company:<div class="header-anchor-widget offset-top" id="§growth-strategy-of-the-company" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; height: 24.7875px; left: -56px; position: absolute; top: -72px; width: 56px;"><div class="header-anchor-widget-button-container" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; display: flex; height: 1.2em; left: 0px; position: absolute; top: 72px; width: 40px;"><div class="header-anchor-widget-button" href="https://intelsense.substack.com/i/102988514/growth-strategy-of-the-company" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; border-radius: 50%; cursor: pointer; display: flex; height: 40px; justify-content: center; opacity: 0; width: 40px;"><svg class="header-anchor-widget-icon" fill="none" height="20" stroke-linecap="round" stroke-linejoin="round" stroke-width="2" stroke="currentColor" viewbox="0 0 24 24" width="20" xmlns="http://www.w3.org/2000/svg"><path d="M10 13a5 5 0 0 0 7.54.54l3-3a5 5 0 0 0-7.07-7.07l-1.72 1.71"></path><path d="M14 11a5 5 0 0 0-7.54-.54l-3 3a5 5 0 0 0 7.07 7.07l1.71-1.71"></path></svg></div></div></div></h4><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">Being dependent on one revenue stream is certainly not good. Thus, in this regard, the company is contemplating expanding their supplementary business verticals, O&M and IPP (mentioned in the annual report of 2021-22).</p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><br /></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">To build on their annuity income, they are also in the midst of evaluating projects to expand their power generation assets. Currently, they operate 8.4 MW of wind generation assets, but in their second phase, they are also looking to add wind-solar hybrid capacity. The plan is to sell the energy generated from this project to the C&I (Commercial and Industrial) customer base through the third-party sale mechanism under Open Access.</p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><br /></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">They have executed a Business Transfer Agreement with their wholly-owned subsidiary, which will independently operate and maintain its conceived projects. This subsidiary will also tap into different geographies and assets under its OMS umbrella by leveraging its long-standing exposure and position in the market.</p><h4 class="header-with-anchor-widget" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; -webkit-font-smoothing: subpixel-antialiased; background-color: white; color: #404040; font-family: var(--font_family_headings, var(--font_family_headings_preset, "SF Compact Display", -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol")); font-size: 1.125em; font-weight: var(--font_weight_headings_preset, bold); line-height: 1.16em; margin: 1em 0px 0.625em; position: relative;"><br /></h4><h4 class="header-with-anchor-widget" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; -webkit-font-smoothing: subpixel-antialiased; background-color: white; color: #404040; font-family: var(--font_family_headings, var(--font_family_headings_preset, "SF Compact Display", -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol")); font-size: 1.125em; font-weight: var(--font_weight_headings_preset, bold); line-height: 1.16em; margin: 1em 0px 0.625em; position: relative;">Accomplishments of the company:<div class="header-anchor-widget offset-top" id="§accomplishments-of-the-company" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; height: 24.7875px; left: -56px; position: absolute; top: -72px; width: 56px;"><div class="header-anchor-widget-button-container" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; display: flex; height: 1.2em; left: 0px; position: absolute; top: 72px; width: 40px;"><div class="header-anchor-widget-button" href="https://intelsense.substack.com/i/102988514/accomplishments-of-the-company" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; border-radius: 50%; cursor: pointer; display: flex; height: 40px; justify-content: center; opacity: 0; width: 40px;"><svg class="header-anchor-widget-icon" fill="none" height="20" stroke-linecap="round" stroke-linejoin="round" stroke-width="2" stroke="currentColor" viewbox="0 0 24 24" width="20" xmlns="http://www.w3.org/2000/svg"><path d="M10 13a5 5 0 0 0 7.54.54l3-3a5 5 0 0 0-7.07-7.07l-1.72 1.71"></path><path d="M14 11a5 5 0 0 0-7.54-.54l-3 3a5 5 0 0 0 7.07 7.07l1.71-1.71"></path></svg></div></div></div></h4><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">Gujarat’s number 1 Balance of Plant (BoP) solution provider for Wind Farms</p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">Commissioned a 15.3 MW Wind Power Project for Captive Customers in a record time of 4 months</p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><br /></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">Emerged as the winner of the India Wind Energy Forum 2021 Awards in the category of Business Excellence Award – “Company of the Year: Developer > 1000 MW”</p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><br /></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">Greater than 200 MW Cumulative wind energy capacity energised by the Company since inception</p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><br /></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">Around 300 MW of additional capacity energised with the company’s scope of work completed</p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><br /></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">Around 514 MW Capacity of Power Evacuation Infrastructure</p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><br /></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">Around 1081 MW order book and business pipeline for the coming 2.5 years</p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><br /></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">Around 500 MW of additional power evacuation capacity is under development</p><h4 class="header-with-anchor-widget" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; -webkit-font-smoothing: subpixel-antialiased; background-color: white; color: #404040; font-family: var(--font_family_headings, var(--font_family_headings_preset, "SF Compact Display", -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol")); font-size: 1.125em; font-weight: var(--font_weight_headings_preset, bold); line-height: 1.16em; margin: 1em 0px 0.625em; position: relative;"><br /></h4><h4 class="header-with-anchor-widget" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; -webkit-font-smoothing: subpixel-antialiased; background-color: white; color: #404040; font-family: var(--font_family_headings, var(--font_family_headings_preset, "SF Compact Display", -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol")); font-size: 1.125em; font-weight: var(--font_weight_headings_preset, bold); line-height: 1.16em; margin: 1em 0px 0.625em; position: relative;">RISK & RISK MITIGATION:<div class="header-anchor-widget offset-top" id="§risk-and-risk-mitigation" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; height: 24.7875px; left: -56px; position: absolute; top: -72px; width: 56px;"><div class="header-anchor-widget-button-container" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; display: flex; height: 1.2em; left: 0px; position: absolute; top: 72px; width: 40px;"><div class="header-anchor-widget-button" href="https://intelsense.substack.com/i/102988514/risk-and-risk-mitigation" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; border-radius: 50%; cursor: pointer; display: flex; height: 40px; justify-content: center; opacity: 0; width: 40px;"><svg class="header-anchor-widget-icon" fill="none" height="20" stroke-linecap="round" stroke-linejoin="round" stroke-width="2" stroke="currentColor" viewbox="0 0 24 24" width="20" xmlns="http://www.w3.org/2000/svg"><path d="M10 13a5 5 0 0 0 7.54.54l3-3a5 5 0 0 0-7.07-7.07l-1.72 1.71"></path><path d="M14 11a5 5 0 0 0-7.54-.54l-3 3a5 5 0 0 0 7.07 7.07l1.71-1.71"></path></svg></div></div></div></h4><h5 style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; -webkit-font-smoothing: subpixel-antialiased; background-color: white; color: #404040; font-family: var(--font_family_headings, var(--font_family_headings_preset, "SF Compact Display", -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol")); font-weight: var(--font_weight_headings_preset, bold); line-height: 1.16em; margin: 1em 0px 0.625em;">REGULATORY RISK:</h5><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">This industry is a segment of the renewable energy industry. The renewable energy industry is eminently a regulated space, wherein any changes in Government and regulatory policies may impact the company’s performance. Any adverse changes in the wind energy policy or amendments in policies related to power evacuation facilities can significantly impact the operations of the industry and the Company.</p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><br /></p><h5 style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; -webkit-font-smoothing: subpixel-antialiased; background-color: white; color: #404040; font-family: var(--font_family_headings, var(--font_family_headings_preset, "SF Compact Display", -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol")); font-weight: var(--font_weight_headings_preset, bold); line-height: 1.16em; margin: 1em 0px 0.625em;">BUSINESS RISK:</h5><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">The company’s revenue streams are derived from capital expenditure in the wind energy space by either Independent Power Producer (IPP) or Captive Power Producers (CPP).</p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><br /></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">Therefore, depending upon the capital expenditure scenario and cycle, a reduction caused by either of them could adversely affect the financial performance of the company.</p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><br /></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">The company’s revenues come predominantly from one geographical location of Gujarat which could be a negative in the long run.</p><h5 style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; -webkit-font-smoothing: subpixel-antialiased; background-color: white; color: #404040; font-family: var(--font_family_headings, var(--font_family_headings_preset, "SF Compact Display", -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol")); font-weight: var(--font_weight_headings_preset, bold); line-height: 1.16em; margin: 1em 0px 0.625em;"><br /></h5><h5 style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; -webkit-font-smoothing: subpixel-antialiased; background-color: white; color: #404040; font-family: var(--font_family_headings, var(--font_family_headings_preset, "SF Compact Display", -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol")); font-weight: var(--font_weight_headings_preset, bold); line-height: 1.16em; margin: 1em 0px 0.625em;">PROJECT DEVELOPMENT RISK</h5><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">The project development process has several risks such as - building permits, land acquisitions and logistics which can lead to delays, cancellations and write-offs of projects. This may have a severe impact on the profitability of the business. In addition, project delays also lead to cost overruns which may impact profitability.</p><h4 class="header-with-anchor-widget" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; -webkit-font-smoothing: subpixel-antialiased; background-color: white; color: #404040; font-family: var(--font_family_headings, var(--font_family_headings_preset, "SF Compact Display", -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol")); font-size: 1.125em; font-weight: var(--font_weight_headings_preset, bold); line-height: 1.16em; margin: 1em 0px 0.625em; position: relative;"><br /></h4><h4 class="header-with-anchor-widget" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; -webkit-font-smoothing: subpixel-antialiased; background-color: white; color: #404040; font-family: var(--font_family_headings, var(--font_family_headings_preset, "SF Compact Display", -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol")); font-size: 1.125em; font-weight: var(--font_weight_headings_preset, bold); line-height: 1.16em; margin: 1em 0px 0.625em; position: relative;">GROUP COMPANIES<div class="header-anchor-widget offset-top" id="§group-companies" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; height: 24.7875px; left: -56px; position: absolute; top: -72px; width: 56px;"><div class="header-anchor-widget-button-container" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; display: flex; height: 1.2em; left: 0px; position: absolute; top: 72px; width: 40px;"><div class="header-anchor-widget-button" href="https://intelsense.substack.com/i/102988514/group-companies" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; border-radius: 50%; cursor: pointer; display: flex; height: 40px; justify-content: center; opacity: 0; width: 40px;"><svg class="header-anchor-widget-icon" fill="none" height="20" stroke-linecap="round" stroke-linejoin="round" stroke-width="2" stroke="currentColor" viewbox="0 0 24 24" width="20" xmlns="http://www.w3.org/2000/svg"><path d="M10 13a5 5 0 0 0 7.54.54l3-3a5 5 0 0 0-7.07-7.07l-1.72 1.71"></path><path d="M14 11a5 5 0 0 0-7.54-.54l-3 3a5 5 0 0 0 7.07 7.07l1.71-1.71"></path></svg></div></div></div></h4><h5 style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; -webkit-font-smoothing: subpixel-antialiased; background-color: white; color: #404040; font-family: var(--font_family_headings, var(--font_family_headings_preset, "SF Compact Display", -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol")); font-weight: var(--font_weight_headings_preset, bold); line-height: 1.16em; margin: 1em 0px 0.625em;">1. KPI GREEN ENERGY LIMITED</h5><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">Solar Energy Industry</p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><br /></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">KPI Global Infrastructure, the solar energy arm of the KP Group, is a multi-dimensional solar energy company with interests in power generation both as an Independent Power Producer (IPP) and as a service provider to Captive Power Producers (CPP). Operating under its brand name ‘Solarism’, it engages in providing turnkey solutions to its clients.</p><h5 style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; -webkit-font-smoothing: subpixel-antialiased; background-color: white; color: #404040; font-family: var(--font_family_headings, var(--font_family_headings_preset, "SF Compact Display", -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol")); font-weight: var(--font_weight_headings_preset, bold); line-height: 1.16em; margin: 1em 0px 0.625em;"><br /></h5><h5 style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; -webkit-font-smoothing: subpixel-antialiased; background-color: white; color: #404040; font-family: var(--font_family_headings, var(--font_family_headings_preset, "SF Compact Display", -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol")); font-weight: var(--font_weight_headings_preset, bold); line-height: 1.16em; margin: 1em 0px 0.625em;">2. KP BUILDCON PRIVATE LIMITED</h5><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">Galvanisation and Fabrication</p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><br /></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">KP Group’s flagship company, KP Buildcon Private Limited, is one of India’s largest Telecom Infrastructure providers since 2009. Its clientele includes the World’s Largest Telecom Towers Company.</p><h5 style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; -webkit-font-smoothing: subpixel-antialiased; background-color: white; color: #404040; font-family: var(--font_family_headings, var(--font_family_headings_preset, "SF Compact Display", -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol")); font-weight: var(--font_weight_headings_preset, bold); line-height: 1.16em; margin: 1em 0px 0.625em;"><br /></h5><h5 style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; -webkit-font-smoothing: subpixel-antialiased; background-color: white; color: #404040; font-family: var(--font_family_headings, var(--font_family_headings_preset, "SF Compact Display", -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol")); font-weight: var(--font_weight_headings_preset, bold); line-height: 1.16em; margin: 1em 0px 0.625em;">3. KP HUMAN DEVELOPMENT FOUNDATION</h5><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">Non-Profit Organisation</p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><br /></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">The KP Human Development Foundation is one of the entities of KP Group, established as a Non-Profit organisation in 2015. Over the years, the NPO has embarked on its journey towards facilitating quality education, helping the underprivileged, and improving the quality of healthcare in its communities.</p><h4 class="header-with-anchor-widget" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; -webkit-font-smoothing: subpixel-antialiased; background-color: white; color: #404040; font-family: var(--font_family_headings, var(--font_family_headings_preset, "SF Compact Display", -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol")); font-size: 1.125em; font-weight: var(--font_weight_headings_preset, bold); line-height: 1.16em; margin: 1em 0px 0.625em; position: relative;"><br /></h4><h4 class="header-with-anchor-widget" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; -webkit-font-smoothing: subpixel-antialiased; background-color: white; color: #404040; font-family: var(--font_family_headings, var(--font_family_headings_preset, "SF Compact Display", -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol")); font-size: 1.125em; font-weight: var(--font_weight_headings_preset, bold); line-height: 1.16em; margin: 1em 0px 0.625em; position: relative;">Financials<div class="header-anchor-widget offset-top" id="§financials" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; height: 24.7875px; left: -56px; position: absolute; top: -72px; width: 56px;"><div class="header-anchor-widget-button-container" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; display: flex; height: 1.2em; left: 0px; position: absolute; top: 72px; width: 40px;"><div class="header-anchor-widget-button" href="https://intelsense.substack.com/i/102988514/financials" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; border-radius: 50%; cursor: pointer; display: flex; height: 40px; justify-content: center; opacity: 0; width: 40px;"><svg class="header-anchor-widget-icon" fill="none" height="20" stroke-linecap="round" stroke-linejoin="round" stroke-width="2" stroke="currentColor" viewbox="0 0 24 24" width="20" xmlns="http://www.w3.org/2000/svg"><path d="M10 13a5 5 0 0 0 7.54.54l3-3a5 5 0 0 0-7.07-7.07l-1.72 1.71"></path><path d="M14 11a5 5 0 0 0-7.54-.54l-3 3a5 5 0 0 0 7.07 7.07l1.71-1.71"></path></svg></div></div></div></h4><div class="captioned-image-container" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; margin: var(--size-32) auto;"><figure style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; margin: 0px auto; width: 728px;"><a class="image-link is-viewable-img image2" href="https://substackcdn.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F790f3f95-41b4-434b-9b06-527f80ab4cc5_1693x776.png" rel="" style="--tw-ring-color: rgb(59 130 246 / 0.5); 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opacity: 0; position: absolute; right: var(--size-12); top: var(--size-12); transition: all var(--animation-timing-fast) var(--animation-smoothing); width: var(--size-32);"><svg class="lucide lucide-maximize2" fill="none" height="16" stroke-linecap="round" stroke-linejoin="round" stroke-width="2" stroke="#FFFFFF" viewbox="0 0 24 24" width="16" xmlns="http://www.w3.org/2000/svg"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></div></div></a></figure></div><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><a href="https://www.screener.in/company/539686/consolidated/" rel="" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; text-decoration-line: none;">Screener link</a></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><br /></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">The company has seen the ups and downs of the wind energy industry. Till a few years back the main reason wind energy plants were being set up was to get tax and accelerated depreciation benefits.</p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><br /></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">Even in a severe pandemic year like 2020, the company managed to remain profitable.</p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><br /></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">With an increased focus on green energy and renewables, KP Energy has shown robust growth in recent quarters.</p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><br /></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">It has a ROCE of 30% and a debt-to-equity (D/E) of 0.21.</p><h4 class="header-with-anchor-widget" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; -webkit-font-smoothing: subpixel-antialiased; background-color: white; color: #404040; font-family: var(--font_family_headings, var(--font_family_headings_preset, "SF Compact Display", -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol")); font-size: 1.125em; font-weight: var(--font_weight_headings_preset, bold); line-height: 1.16em; margin: 1em 0px 0.625em; position: relative;"><br /></h4><h4 class="header-with-anchor-widget" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; -webkit-font-smoothing: subpixel-antialiased; background-color: white; color: #404040; font-family: var(--font_family_headings, var(--font_family_headings_preset, "SF Compact Display", -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol")); font-size: 1.125em; font-weight: var(--font_weight_headings_preset, bold); line-height: 1.16em; margin: 1em 0px 0.625em; position: relative;">DISCLAIMER:<div class="header-anchor-widget offset-top" id="§disclaimer" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; height: 24.7875px; left: -56px; position: absolute; top: -72px; width: 56px;"><div class="header-anchor-widget-button-container" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; 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--tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; margin-bottom: 0px; margin-top: 0px; padding: 0px;"><li style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; 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--tw-translate-x: 0; --tw-translate-y: 0; margin: var(--size-8) 0 0 var(--size-32);"><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; box-sizing: border-box; color: var(--print_on_web_bg_color, var(--color-primary)); line-height: 1.6em; margin: 0px; padding-left: var(--size-4);">At Intelsense we regularly study interesting businesses. We keep profiling them. The idea is to keep learning and expanding our knowledge base.</p></li><li style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; margin: var(--size-8) 0 0 var(--size-32);"><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; box-sizing: border-box; color: var(--print_on_web_bg_color, var(--color-primary)); line-height: 1.6em; margin: 0px; padding-left: var(--size-4);">It does NOT construe a BUY or SELL recommendation on the stock.</p></li></ul>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-5297910739720462639.post-75016765122591782832023-02-13T02:31:00.007-08:002023-02-13T02:31:55.578-08:00TV interactions: Business Today<p><span style="background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px;">Discussion across multiple topics including Adani stocks, new-age businesses and whether it is time to buy them now and sectors that look good now.</span></p><p><span style="background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px;"><br /></span></p><p></p><div class="separator" style="clear: both; text-align: center;"><iframe allowfullscreen="" class="BLOG_video_class" height="345" src="https://www.youtube.com/embed/nsNyWf0LEAg" width="481" youtube-src-id="nsNyWf0LEAg"></iframe></div><br /><span style="background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px;"><br /></span><p></p><div><div class="separator" style="clear: both; text-align: center;"><iframe allowfullscreen="" class="BLOG_video_class" height="331" src="https://www.youtube.com/embed/VHEpJ2CPnP4" width="480" youtube-src-id="VHEpJ2CPnP4"></iframe></div><br /><span style="background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px;"><br /></span></div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-5297910739720462639.post-50561103184854775782023-02-08T05:43:00.003-08:002023-02-08T05:44:07.059-08:00Sula Vineyards - A Wine Company<p></p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgPuSU3wUeUMT8tMKdH8FhnC_oGJMefE58ypcA_SmJ2yhnb06yvgf27T2H72jCEDnqr6CHZCPOehxyIr8qtMZFD8vQvdFZ1VDTgBaHhTJY3OGm1B2Skn9P0am0BZpJDO_JbTb0UMAp6cJ3XkOnfNI6v67D7RfKvGrBXvN0E_8k3NQni3ZuU_gBQUjXsMQ/s1600/Stock%20Story.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="900" data-original-width="1600" height="360" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgPuSU3wUeUMT8tMKdH8FhnC_oGJMefE58ypcA_SmJ2yhnb06yvgf27T2H72jCEDnqr6CHZCPOehxyIr8qtMZFD8vQvdFZ1VDTgBaHhTJY3OGm1B2Skn9P0am0BZpJDO_JbTb0UMAp6cJ3XkOnfNI6v67D7RfKvGrBXvN0E_8k3NQni3ZuU_gBQUjXsMQ/w640-h360/Stock%20Story.png" width="640" /></a></div><br /><span face="Arial, sans-serif" style="background-color: white; color: #404040; font-family: verdana; font-size: 15.008px; font-weight: bolder;"><br /></span><p></p><p><span face="Arial, sans-serif" style="background-color: white; color: #404040; font-family: verdana; font-size: 15.008px; font-weight: bolder;">Business Overview</span></p><p style="background-color: white; color: #404040; font-size: 15.008px; margin-top: 0px;"><span style="font-family: verdana;">Sula Vineyards Limited is India’s largest wine producer and seller as of March 31, 2022. The company has been a consistent market leader in the Indian wine industry in terms of sales volume and value (on the basis of the total revenue from operations) since 2009 crossing 50% market share by value in the domestic and 100% grapes wine market in 2012. <span style="font-weight: bolder;">Sula Shiraz Cabernet was India’s largest-selling wine by value in 2021</span> (Source: Technopak Report). The gross billings of Sula Shiraz Cabernet amounted to ₹918.26 million, ₹475.64 million and ₹319.73million in FY2022 and for the six months period ended September 30, 2021 and September 30, 2022, respectively.</span></p><p style="background-color: white; color: #404040; font-size: 15.008px;"><span style="font-family: verdana;">The business model of Sula Vineyards can be categorized into two divisions:</span></p><ul style="background-color: white; clear: both; color: #404040; font-size: 15.008px; margin: 1em 0px 1em 1.25em; padding: 0px 0px 0px 1.25em;"><li><span style="font-family: verdana;"><span style="font-weight: bolder;">The Wines Division</span>: Involves the production of wines, import and distribution of wines and spirits etc.</span></li><li><span style="font-family: verdana;"><span style="font-weight: bolder;">Wine Tourism:</span> A complement of the former division, wine tourism involves wine tourism venues, resorts and tasting rooms.</span></li></ul><p style="background-color: white; color: #404040; font-size: 15.008px;"><span style="font-family: verdana;">The Company distributes wines under a bouquet of popular brands. In addition to the flagship brand “Sula,” popular brands include “RASA,” “Dindori”, “The source,” “Satori”, “Madera” & “Dia” with its flagship brand “Sula” being the “category creator” of wine in India. Presently, the company produces 56 different labels of wine at four owned and two leased production facilities in the states of Karnataka and Maharashtra.</span></p><p style="background-color: white; color: #404040; font-size: 15.008px;"><span style="font-family: verdana;">The company’s wines are available at various price points between ₹250 to ₹1,895 per 750 ml bottle in Maharashtra, making them accessible for consumers with different budgets appealing to mass markets as well as having a premium product strategy. In particular, the wines are classified under four broad categories, namely the ‘Elite’ category with 21 labels, followed by the ‘Premium’ category with 13 labels, the ‘Economy’ category with 13 labels and the ‘Popular’ category offering 9 labels.</span></p><p style="background-color: white; color: #404040; font-size: 15.008px;"><span style="font-family: verdana;">The products have been segment leaders under each of these four categories in the last six years from FY2017 to FY2022. The company also regularly introduces new products, with seven labels launched in the last five years.</span></p><p style="background-color: white; color: #404040; font-size: 15.008px;"><span style="font-family: verdana;">The resorts under the company’s domain are the most visited vineyards in India, with approximately 368,000 people visiting in FY2020. The management launched the first wine-themed music festival in India, “SulaFest”, at its Nashik facility in 2008. “SulaFest” has been widely recognized as the largest wine music festival in India and one of the largest wine music festivals in Asia, based on attendance.</span></p><p style="background-color: white; color: #404040; font-size: 15.008px;"><span style="font-family: verdana;">The company is one of the fastest-growing alcohol businesses in India with a CAGR of 13.3% between FY2011 and FY2022. The company emerged even stronger in the aftermath of Covid with its EBITDA moving from 9.68% in 2020 to 15.44% in 2021. The company services close to 8,000 hotels, restaurants and caterers, which makes it the leader in terms of footprint among wine players in India. The company continues to focus on its operating efficiency and tries to introduce wines to a larger portion of the population.</span></p><h4 style="background-color: white; color: #404040; font-size: 15.008px; line-height: var(--line-height-medium); margin: 30px 0px 10px;"><span style="font-family: verdana;"><a class="anchor" href="https://forum.valuepickr.com/t/sula-vineyards-pioneers-in-indian-wines/97833#industry-analysis-2" name="industry-analysis-2" style="background-color: transparent; cursor: pointer; opacity: 0; overflow-wrap: break-word; text-decoration-line: none; transition: opacity 0.25s ease 0s;"></a><span style="font-weight: bolder;">Industry Analysis</span></span></h4><p style="background-color: white; color: #404040; font-size: 15.008px; margin-top: 0px;"><span style="font-family: verdana;"><span style="font-weight: bolder;">Macro Economy:</span> India is the fifth largest economy in the world presently and is soon to be in the top 3. While the global economies are facing a setback, the Indian economy continues to present a favourable growth rate of over 7% which pushes demand and cash flow into the country. The growing disposable income of the population and the median age is one of the lowest compared to the western economies and China. Indian domestic consumption is going to drive the Indian economy in the upcoming years.</span></p><p style="background-color: white; color: #404040; font-size: 15.008px;"><span style="font-family: verdana;"><span style="font-weight: bolder;">Alcoholic beverage Industry</span>: World per capita alcohol consumption in CY 2021 is estimated at 6.6 litres of pure alcohol per year for the world population of 15 years above. The recorded alcohol per capita consumption for CY 2021 is estimated at 4.8 litres. The alcohol industry can be divided into 3 sub-sections: Beer, Spirits and Wine.</span></p><p style="background-color: white; color: #404040; font-size: 15.008px;"><a href="https://substackcdn.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F7a715802-b3f9-4356-987b-dbc3545fa95b_721x210.png" style="background-color: transparent; cursor: pointer; overflow-wrap: break-word; text-decoration-line: none;"><span style="font-family: verdana;"><br /><img alt="" height="210" loading="lazy" src="https://substackcdn.com/image/fetch/w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F7a715802-b3f9-4356-987b-dbc3545fa95b_721x210.png" style="aspect-ratio: 721 / 210; border-style: none; height: auto; max-width: 100%; vertical-align: middle;" width="721" /><br /></span></a></p><p style="background-color: white; color: #404040; font-size: 15.008px;"><em><span style="font-family: verdana; font-weight: bolder;">Fig: World Per capita recorded alcohol consumption in 2021</span></em></p><p style="background-color: white; color: #404040; font-size: 15.008px;"><span style="font-family: verdana;">India is one of the fastest-growing alcohol markets among the top economies in the world. The recorded per capita consumption of pure alcohol in India has moved from 0.9 litres in 2000 to 3 litres in 2015 at a CAGR of more than 8%. The percentage drinking population of the world is close to 41.7% and is projected to stabilize at around 40%. India’s percentage of drinking population is projected to be close to ~33%.</span></p><p style="background-color: white; color: #404040; font-size: 15.008px;"><span style="font-family: verdana;">India, just like any other developing country is a leader in the spirits market but other segments hold promise to grow, as a result of the rise in per capita income, trends and taste shifts and urbanization. India, with its share of low alcoholic beverages at close to 8%, is at a very low base and a prolonged period of correction in favour of wine and beer categories is bound to take place.</span></p><p style="background-color: white; color: #404040; font-size: 15.008px;"><span style="font-family: verdana;">The share of wine and beer is projected to increase both through the expansion of the market and by taking a share of the market from spirits. While earlier, family celebrations with alcohol were very infrequent and viewed as taboo, it is more acceptable now in all kinds of social settings, be it birthday parties, get-togethers, official meetings, etc. Beer and wine with low alcoholic content are the preferred choice of drinks in such celebrations and are big opportunities in the Indian alco-beverage industry.</span></p><p style="background-color: white; color: #404040; font-size: 15.008px;"><span style="font-family: verdana;">India’s per capita consumption of wine is less than 100ml. <span style="font-weight: bolder;">The contribution of wine to overall alcohol consumption in India is less than 1% against the world average of close to 13%.</span> Consumption of wine is higher in developed countries which is as high as close to 30% in Europe. A comparison between India and China shows that in China, even though the contribution of wine to overall alcohol consumption is close to only 3 %, China’s per capita consumption of wine is more than 50 times that of India.</span></p><p style="background-color: white; color: #404040; font-size: 15.008px;"><a href="https://substackcdn.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F2ef0d9f9-dc13-443f-9fe7-0345376c25b4_728x374.png" style="background-color: transparent; cursor: pointer; overflow-wrap: break-word; text-decoration-line: none;"><span style="font-family: verdana;"><br /><img alt="" height="374" loading="lazy" src="https://substackcdn.com/image/fetch/w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F2ef0d9f9-dc13-443f-9fe7-0345376c25b4_728x374.png" style="aspect-ratio: 728 / 374; border-style: none; height: auto; max-width: 100%; vertical-align: middle;" width="728" /><br /></span></a></p><p style="background-color: white; color: #404040; font-size: 15.008px;"><em><span style="font-family: verdana;">Fig: Contribution of alcoholic beverages in 100% alcohol in CY2021 (volume per cent)</span></em></p><p style="background-color: white; color: #404040; font-size: 15.008px;"><span style="font-family: verdana;">Indian wines industry is growing at a much quicker pace at 18.3% by value between FY 2014 to FY 2019 than the IMFL market growing at 12.3%. by value for the same period. There is growing awareness towards the perceived health benefits of wine which makes it more acceptable as compared to spirits. The supply of domestic wines that are reasonably priced and easily available as compared to imported wines has also helped expand the market as leaders in the domestic market have invested in the complete value chain of wines and winemaking. Growth in income, increasing urbanisation, a high share of young population as well as an increasing preference for wines among women are driving higher consumption of wines.</span></p><p style="background-color: white; color: #404040; font-size: 15.008px;"><a href="https://substackcdn.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fca7a1a3d-6b70-4369-9930-d485ff04401c_738x335.png" style="background-color: transparent; cursor: pointer; overflow-wrap: break-word; text-decoration-line: none;"><span style="font-family: verdana;"><br /><img alt="" height="335" loading="lazy" src="https://substackcdn.com/image/fetch/w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fca7a1a3d-6b70-4369-9930-d485ff04401c_738x335.png" style="aspect-ratio: 738 / 335; border-style: none; height: auto; max-width: 100%; vertical-align: middle;" width="738" /><br /></span></a></p><p style="background-color: white; color: #404040; font-size: 15.008px;"><em><span style="font-family: verdana;">Fig: Key players in the Indian Alcoholic Beverages</span></em></p><p style="background-color: white; color: #404040; font-size: 15.008px;"><span style="font-family: verdana;">Recent trends in the industry include <span style="font-weight: bolder;">premiumisation</span> where people are ready to pay and consume higher-priced premium products as a result of an increase in per-capita income and urbanisation. The covid period also saw the restructuring of the distribution and delivery networks of various sectors including beverages which has allowed a lot of cost-cutting and has increased the accessibility of wines and other beverages in the country. Reduction in social taboos centred around drinking and increased in-house drinking has opened up a new line of products which are more affordable, easy to produce and store and has developed brand equity.</span></p><p style="background-color: white; color: #404040; font-size: 15.008px;"><span style="font-family: verdana;">With the increase in disposable income, especially among women, urban earning women are driving the growth of the wine segment in India. There is a shift in trend from binge drinking towards social drinking, which has also led to a widespread inclusion of wine in parties and gatherings. Wine is becoming a preferred drink for millennials156 who look to socialize after office hours and on weekends.</span></p><p style="background-color: white; color: #404040; font-size: 15.008px;"><span style="font-family: verdana;">The Indian Wine Market is projected to reach INR 3,785 cr by FY2025 with a CAGR of 20% from FY2022 to FY2025.</span></p><p style="background-color: white; color: #404040; font-size: 15.008px;"><a href="https://substackcdn.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fda6be625-cf73-47a7-8d62-5551160d958d_751x504.png" style="background-color: transparent; cursor: pointer; overflow-wrap: break-word; text-decoration-line: none;"><span style="font-family: verdana;"><br /><img alt="" height="504" loading="lazy" src="https://substackcdn.com/image/fetch/w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fda6be625-cf73-47a7-8d62-5551160d958d_751x504.png" style="aspect-ratio: 751 / 504; border-style: none; height: auto; max-width: 100%; vertical-align: middle;" width="751" /><br /></span></a></p><p style="background-color: white; color: #404040; font-size: 15.008px;"><em><span style="font-family: verdana;">Fig: Indian Wine Industry Market Size by value (in INR cr)</span></em></p><h4 style="background-color: white; color: #404040; font-size: 15.008px; line-height: var(--line-height-medium); margin: 30px 0px 10px;"><span style="font-family: verdana;"><a class="anchor" href="https://forum.valuepickr.com/t/sula-vineyards-pioneers-in-indian-wines/97833#the-drivers-of-growth-in-the-indian-wine-industry-3" name="the-drivers-of-growth-in-the-indian-wine-industry-3" style="background-color: transparent; cursor: pointer; opacity: 0; overflow-wrap: break-word; text-decoration-line: none; transition: opacity 0.25s ease 0s;"></a>The drivers of growth in the Indian Wine Industry:</span></h4><ul style="background-color: white; clear: both; color: #404040; font-size: 15.008px; margin: 1em 0px 1em 1.25em; padding: 0px 0px 0px 1.25em;"><li><span style="font-family: verdana;">Growing Income levels and rapid urbanization</span></li><li><span style="font-family: verdana;">Growing awareness about wines</span></li><li><span style="font-family: verdana;">Wider appeal</span></li><li><span style="font-family: verdana;">Growing perception of health benefits</span></li><li><span style="font-family: verdana;">Growth of wine tourism</span></li><li><span style="font-family: verdana;">Increase in home consumption</span></li><li><span style="font-family: verdana;">Change in social perception</span></li></ul><h4 style="background-color: white; color: #404040; font-size: 15.008px; line-height: var(--line-height-medium); margin: 30px 0px 10px;"><span style="font-family: verdana;"><a class="anchor" href="https://forum.valuepickr.com/t/sula-vineyards-pioneers-in-indian-wines/97833#business-analysis-4" name="business-analysis-4" style="background-color: transparent; cursor: pointer; opacity: 0; overflow-wrap: break-word; text-decoration-line: none; transition: opacity 0.25s ease 0s;"></a><span style="font-weight: bolder;">Business analysis</span></span></h4><h5 style="background-color: white; color: #404040; font-size: var(--font-down-1-rem); line-height: var(--line-height-medium); margin: 30px 0px 10px;"><span style="font-family: verdana;"><a class="anchor" href="https://forum.valuepickr.com/t/sula-vineyards-pioneers-in-indian-wines/97833#strengths-5" name="strengths-5" style="background-color: transparent; cursor: pointer; opacity: 0; overflow-wrap: break-word; text-decoration-line: none; transition: opacity 0.25s ease 0s;"></a>Strengths:</span></h5><ul style="background-color: white; clear: both; color: #404040; font-size: 15.008px; margin: 1em 0px 1em 1.25em; padding: 0px 0px 0px 1.25em;"><li><span style="font-family: verdana;"><span style="font-weight: bolder;">High barriers to entry:</span> The wine market in India will remain concentrated, with high barriers to entry due to the nature of the product, as well as trade barriers prevalent in the alcoholic beverage market.</span><ul style="clear: both; margin: 0px; padding: 0px 0px 0px 1.25em;"><li><span style="font-family: verdana;">Regulations and trade barriers</span></li><li><span style="font-family: verdana;">Initial cost of Investment</span></li><li><span style="font-family: verdana;">Long gestation period and production cycle before realising any profits demotivate new companies to venture into winemaking.</span></li></ul></li><li><span style="font-family: verdana; font-weight: bolder;">Branding:</span><ul style="clear: both; margin: 0px; padding: 0px 0px 0px 1.25em;"><li><span style="font-family: verdana;">Sula is the largest and one of the oldest producers of wine and associated products in the country</span></li><li><span style="font-family: verdana;">Sula is one of the top 10 vineyards followed by social media handles in the entire world.</span></li></ul></li><li><span style="font-family: verdana;">Innovative product ideas and a portfolio of offerings</span></li><li><span style="font-family: verdana;">Caters to all income groups with products in all pricing ranges. It is also to be noted that the product from the company is the market leader in their respective sections</span></li><li><span style="font-family: verdana;">Largest Wine distribution chain and historic sales record and strategic relationships</span></li><li><span style="font-family: verdana;">The raw materials required in winemaking are rare to come by or costly to grow and procure. Sula has developed a good relationship with the farmers in the country and has a good standing contracted relationship.</span></li><li><span style="font-family: verdana;">Leader and pioneer of wine tourism in India.</span></li><li><span style="font-family: verdana;">Experienced management and the increase in EBIDTA Margins suggest a huge growth potential.</span></li></ul><h4 style="background-color: white; color: #404040; font-size: 15.008px; line-height: var(--line-height-medium); margin: 30px 0px 10px;"><span style="font-family: verdana;"><a class="anchor" href="https://forum.valuepickr.com/t/sula-vineyards-pioneers-in-indian-wines/97833#risks-associated-with-the-business-6" name="risks-associated-with-the-business-6" style="background-color: transparent; cursor: pointer; opacity: 0; overflow-wrap: break-word; text-decoration-line: none; transition: opacity 0.25s ease 0s;"></a>Risks associated with the business:</span></h4><ul style="background-color: white; clear: both; color: #404040; font-size: 15.008px; margin: 1em 0px 1em 1.25em; padding: 0px 0px 0px 1.25em;"><li><span style="font-family: verdana;">Subject to licensing, excise regime, rules and regulations, including the adverse application of corporate and tax laws</span></li><li><span style="font-family: verdana;">Adverse climate conditions could affect the harvest of grapes</span></li><li><span style="font-family: verdana;">Supply restrictions or delays could seriously impact the business</span></li><li><span style="font-family: verdana;">Revenue is dependent on a limited number of customers. The inability to diversify into new relationships or the failure to keep up with the existing customers could seriously impact the business</span></li><li><span style="font-family: verdana;">The wine market is relatively young in India</span></li><li><span style="font-family: verdana;">Advertising or promoting alcohol products is discouraged in India and the wine market needs more awareness among the population. Thereby any promotional effort taken by the company will be subject to great risk.</span></li><li><span style="font-family: verdana;">There are outstanding legal proceedings involving the company, its promotors and its directors</span></li><li><span style="font-family: verdana;">Against the company – 1 criminal proceeding and 9 tax proceedings</span></li><li><span style="font-family: verdana;">Capital-intensive business is subject to seasonality in its sales.</span></li><li><span style="font-family: verdana;">Business nature requires inventory build-up which increases storage risk, insurance and risks</span></li><li><span style="font-family: verdana;">Two vineyards and a few offices, resorts and guest houses are not owned by the company and are taken on lease</span></li></ul><h4 style="background-color: white; color: #404040; font-size: 15.008px; line-height: var(--line-height-medium); margin: 30px 0px 10px;"><span style="font-family: verdana;"><a class="anchor" href="https://forum.valuepickr.com/t/sula-vineyards-pioneers-in-indian-wines/97833#financials-7" name="financials-7" style="background-color: transparent; cursor: pointer; opacity: 0; overflow-wrap: break-word; text-decoration-line: none; transition: opacity 0.25s ease 0s;"></a>Financials</span></h4><p style="background-color: white; color: #404040; font-size: 15.008px; margin-top: 0px;"><a href="https://substackcdn.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F76da6ab2-eb68-493b-aae7-01f73fbc9663_1672x691.png" style="background-color: transparent; cursor: pointer; overflow-wrap: break-word; text-decoration-line: none;"><span style="font-family: verdana;"><br /><img alt="" height="602" loading="lazy" src="https://substackcdn.com/image/fetch/w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F76da6ab2-eb68-493b-aae7-01f73fbc9663_1672x691.png" style="aspect-ratio: 1456 / 602; border-style: none; height: auto; max-width: 100%; vertical-align: middle;" width="1456" /><br /></span></a></p><p style="background-color: white; color: #404040; font-size: 15.008px;"><span style="font-family: verdana;">For detailed financials: <a class="inline-onebox-loading" href="https://www.screener.in/company/SULA/consolidated/#top" style="background-color: transparent; cursor: pointer; overflow-wrap: break-word; text-decoration-line: none;">https://www.screener.in/company/SULA/consolidated/#top</a></span></p><p style="background-color: white; color: #404040; font-size: 15.008px;"><span style="font-family: verdana; font-weight: bolder;">DISCLAIMER: This is for educational purposes only and is NOT a buy or sell recommendation.</span></p><p style="background-color: white; color: #404040; font-size: 15.008px;"><span style="font-family: verdana; font-weight: bolder;">Disclosure: I am a SEBI Registered Research Analyst - Registration Number: INH300006607. I have no position in the stock at the time of publishing this article.</span></p>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-5297910739720462639.post-80060209930075195902023-01-05T22:24:00.000-08:002023-01-05T22:24:18.288-08:00Curiosity@Intelsense<p><span style="font-family: verdana;"> </span></p><div class="captioned-image-container" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; margin: var(--size-32) auto;"><div class="separator" style="clear: both; text-align: center;"><picture style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; 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--tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; display: flex; position: relative;"><div class="image-link-expand" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; background: var(--color-bg-modal); border-radius: 4px; cursor: pointer; display: flex; height: var(--size-32); justify-content: center; opacity: 0; position: absolute; right: var(--size-12); top: var(--size-12); transition: all var(--animation-timing-fast) var(--animation-smoothing); width: var(--size-32);"><svg class="lucide lucide-maximize2" fill="none" height="16" stroke-linecap="round" stroke-linejoin="round" stroke-width="2" stroke="#FFFFFF" viewbox="0 0 24 24" width="16" xmlns="http://www.w3.org/2000/svg"></svg><span style="font-family: verdana;"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></span></div></div></figure></div><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><span style="font-family: verdana;"><br /></span></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><span style="font-family: verdana;">In investing, I have grown to have a dual personality :-) In my first avatar, I keep looking for long term, quality, compounding stories that can give above average returns over very long periods. These tend to end up as the proverbial multibaggers after a few years.</span></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><span style="font-family: verdana;"><br /></span></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><span style="font-family: verdana;">In the second avatar, I look for returns from short cycles using quantitative models, technical analysis or special situations.</span></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><span style="font-family: verdana;"><br /></span></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><span style="font-family: verdana;">While hunting for the long-term growth stocks, I have come to realise that we need to, sometimes, give what I call breathing space to the businesses. Businesses cannot keep delivering high growth every quarter. It is not possible (well, maybe except for HDFC Bank, for the majority part of the last twenty-five years).</span></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><span style="font-family: verdana;"><br /></span></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><span style="font-family: verdana;"><a href="https://www.woodlockhousefamilycapital.com/post/100-bagger" rel="nofollow ugc noopener" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; text-decoration-line: none;">Chris Mayer, in his article</a><span style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;">, has put this rather well.</span></span></p><blockquote style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; border-left: var(--size-4) solid var(--background_pop); color: #404040; margin: var(--size-20) 0; padding: 0px;"><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; color: var(--print_on_web_bg_color, var(--color-primary)); line-height: 1.6em; margin-left: var(--size-20);"></p><blockquote><span style="font-family: verdana;">We all write our notes after the quarterly earnings come out and update our models and so on. But when you step back, you realize how little those things matter. In NVDA, as with any big winner, you see it in stark relief. All those little quarterly updates don’t matter very much at all. Businesses are organic. The numbers fluctuate. They are not machines. We have to allow for some volatility in results.</span></blockquote><p></p></blockquote><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><span style="font-family: verdana;">The idea is not to interrupt compounding unnecessarily when you have a good business run by a good management team.</span></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><span style="font-family: verdana;"><br /></span></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><span style="font-family: verdana;"><span style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;">The World Cup 2022 has come to an end. Messi, having won the last trophy that had kept him away from eternal greatness for so long, can walk away a happy man. In contrast, it also saw the fading away of another great player, Ronaldo, into a sort of ignominy. This </span><a href="https://www.theatlantic.com/newsletters/archive/2022/12/world-cup-2022-lionel-messi-guide-living/672503/" rel="nofollow ugc noopener" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; text-decoration-line: none;">article in The Atlantic</a><span style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;"> captures the essential difference between the two great rivals well.</span></span></p><blockquote style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; border-left: var(--size-4) solid var(--background_pop); color: #404040; margin: var(--size-20) 0; padding: 0px;"><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; color: var(--print_on_web_bg_color, var(--color-primary)); line-height: 1.6em; margin-left: var(--size-20);"></p><blockquote><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; color: var(--print_on_web_bg_color, var(--color-primary)); line-height: 1.6em; margin-left: var(--size-20);"><span style="font-family: verdana;">Ronaldo, 37, flailed because he couldn’t adapt to his physical decline. He insisted on playing as if he were 10 years younger. By acting as if he was essential, he became superfluous. And in his final game, a flaccid defeat to Morocco, he came off the bench, contributed little, then left the field in tears—without shaking hands with his opponents or consoling his bereft teammates. It was a pathetic way to exit, befitting a vain career.</span></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; color: var(--print_on_web_bg_color, var(--color-primary)); line-height: 1.6em; margin-left: var(--size-20);"><span style="font-family: verdana;">That’s the counterpoint to Messi’s victory. Without the legs to carry him, Messi economized his movements. Rather than pretending that he was a young man, he played like an older one. He ambled through games, saving himself for the moments that he could assert himself. He showed a remarkable awareness about how he might be able to parcel out his dwindling corporeal self, how he needed to make choices about when to give himself fully.</span></p></blockquote><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; color: var(--print_on_web_bg_color, var(--color-primary)); line-height: 1.6em; margin-left: var(--size-20);"></p></blockquote><h4 class="header-with-anchor-widget" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; -webkit-font-smoothing: antialiased; background-color: white; color: #404040; font-weight: var(--font_weight_headings_preset, bold); line-height: 1.16em; margin: 1em 0px 0.625em; position: relative;"><span style="font-family: verdana;">Thought of the Week</span><div class="header-anchor-widget" id="§thought-of-the-week" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; height: 24.7875px; left: -56px; position: absolute; top: -72px; width: 56px;"><div class="header-anchor-widget-button-container" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; display: flex; height: 1.2em; left: 0px; position: absolute; top: 72px; width: 40px;"><div class="header-anchor-widget-button" href="https://intelsense.substack.com/i/94573807/thought-of-the-week" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; border-radius: 50%; cursor: pointer; display: flex; height: 40px; justify-content: center; opacity: 0; width: 40px;"><svg class="header-anchor-widget-icon" fill="none" height="20" stroke-linecap="round" stroke-linejoin="round" stroke-width="2" stroke="currentColor" viewbox="0 0 24 24" width="20" xmlns="http://www.w3.org/2000/svg"></svg><span style="font-family: verdana;"><path d="M10 13a5 5 0 0 0 7.54.54l3-3a5 5 0 0 0-7.07-7.07l-1.72 1.71"></path><path d="M14 11a5 5 0 0 0-7.54-.54l-3 3a5 5 0 0 0 7.07 7.07l1.71-1.71"></path></span></div></div></div></h4><blockquote style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; border-left: var(--size-4) solid var(--background_pop); color: #404040; margin: var(--size-20) 0; padding: 0px;"><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; color: var(--print_on_web_bg_color, var(--color-primary)); line-height: 1.6em; margin-left: var(--size-20);"></p><blockquote><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; color: var(--print_on_web_bg_color, var(--color-primary)); line-height: 1.6em; margin-left: var(--size-20);"><span style="font-family: verdana;">When we suffer setbacks, disturbances or grief, let us never place the blame on others, but on our own attitudes.</span></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; color: var(--print_on_web_bg_color, var(--color-primary)); line-height: 1.6em; margin-left: var(--size-20);"><span style="font-family: verdana;">~ The Art of Living by Epictetus</span></p></blockquote><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; color: var(--print_on_web_bg_color, var(--color-primary)); line-height: 1.6em; margin-left: var(--size-20);"></p></blockquote><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><span style="font-family: verdana;">Investing is a microcosm of life itself. So, as in life and investing, the idea is to never blame others for the losses or drawdowns in the portfolio. Ultimately, it was our decision to buy or sell. Unless we take ownership of our own mistakes, we cannot take action to rectify the errors.</span></p><h4 class="header-with-anchor-widget" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; -webkit-font-smoothing: antialiased; background-color: white; color: #404040; font-weight: var(--font_weight_headings_preset, bold); line-height: 1.16em; margin: 1em 0px 0.625em; position: relative;"><span style="font-family: verdana;"><span style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: transparent; color: var(--print_on_web_bg_color, var(--color-primary)); font-weight: var(--font_weight_headings_preset, bold);">Video of the Week: </span><strong style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: transparent; color: var(--print_on_web_bg_color, var(--color-primary));">Meet the Investor Who Made Bill Gates $50 Billion | A Michael Larson Documentary</strong></span></h4><div><strong style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; 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--tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;"><article class="typography newsletter-post post" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; padding: 32px 0px 0px;"><div class="" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; 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--tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; -webkit-font-smoothing: antialiased; color: var(--print_on_web_bg_color, var(--color-primary)); font-weight: var(--font_weight_headings_preset, bold); line-height: 1.16em; margin: 1em 0px 0.625em; position: relative;"><div class="header-anchor-widget" id="§video-of-the-week-meet-the-investor-who-made-bill-gates-billion-a-michael-larson-documentary" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; height: 49.575px; left: -56px; position: absolute; top: -72px; width: 56px;"><div class="header-anchor-widget-button-container" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; display: flex; height: 1.2em; left: 0px; position: absolute; top: 72px; width: 40px;"><div class="header-anchor-widget-button" href="https://intelsense.substack.com/i/94573807/video-of-the-week-meet-the-investor-who-made-bill-gates-billion-a-michael-larson-documentary" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; 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background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: 0px 0px; background-repeat: initial; background-size: initial; border-radius: 20px; border: var(--border-default-themed); box-sizing: border-box; color: var(--print_on_web_bg_color, var(--color-primary)); cursor: pointer; display: flex; gap: 8px; height: 40px; min-width: 40px; padding: 0px 16px; user-select: none;" title="Cross-Post"><svg class="icon" fill="#000000" height="16" role="img" stroke-width="1.5" stroke="#000" style="height: 16px; width: 16px;" viewbox="0 0 24 24" width="16" xmlns="http://www.w3.org/2000/svg"><g><svg class="lucide lucide-arrow-left-right" height="24" stroke-linecap="round" stroke-linejoin="round" stroke-width="1.5" viewbox="0 0 24 24" width="24" xmlns="http://www.w3.org/2000/svg"></svg></g></svg><span style="font-family: verdana;"><polyline points="17 11 21 7 17 3"></polyline><line x1="21" x2="9" y1="7" y2="7"></line><polyline points="7 21 3 17 7 13"></polyline><line x1="15" x2="3" y1="17" y2="17"></line></span><div class="label" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; border-bottom-width: 2px; border-top-width: 2px; color: var(--print_secondary, var(--print_secondary_on_web_bg_color, var(--print_secondary, var(--color-secondary)))); letter-spacing: -0.15px; line-height: 20px; text-transform: uppercase;"><span style="font-family: verdana;">CROSS-POST</span></div><div><br /></div></a></div></div></div></div></div></article></div></div><div class="single-post-section comments-section" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; font-weight: 400;"></div></strong></div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-5297910739720462639.post-14219439486201073262022-12-30T22:51:00.003-08:002022-12-30T22:51:16.076-08:002022 - A Year in Review<p><span style="font-family: verdana;"> </span></p><div class="captioned-image-container" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; 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--tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; display: block; height: auto; margin: 0px auto; max-width: 100%;" width="640" /></picture><div class="image-link-expand" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; background: var(--color-bg-modal); border-radius: 4px; cursor: pointer; display: flex; height: var(--size-32); justify-content: center; opacity: 1; position: absolute; right: var(--size-12); top: var(--size-12); transition: all var(--animation-timing-fast) var(--animation-smoothing); width: var(--size-32);"><svg class="lucide lucide-maximize2" fill="none" height="16" stroke-linecap="round" stroke-linejoin="round" stroke-width="2" stroke="#FFFFFF" viewbox="0 0 24 24" width="16" xmlns="http://www.w3.org/2000/svg"></svg><span style="font-family: verdana;"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></span></div></div></figure></div><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><span style="font-family: verdana;">We are again at that time of the year when people don their thinking hats and reflect on the year gone by. As an investor, I find it very important to reduce my regular investment work and go back and think about what went right and what could be improved upon.</span></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><span style="font-family: verdana;"><br /></span></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><span style="font-family: verdana;">This last week, I actually was inspired by the “Think Week” ritual that Bill Gates used to have. Unlike Gates, I did not go off to a reclusive lake-side retreat all by myself. But I did reduce a lot of my regular work and went back to my pen and diary (sometimes OneNote journal) to look back and also to look forward.</span></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><span style="font-family: verdana;"><br /></span></p><h4 class="header-with-anchor-widget" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; -webkit-font-smoothing: antialiased; background-color: white; font-weight: var(--font_weight_headings_preset, bold); line-height: 1.16em; margin: 1em 0px 0.625em; position: relative;"><span style="font-family: verdana;">2022 - The year gone by:</span><div class="header-anchor-widget" id="§the-year-gone-by" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; height: 24.7875px; left: -56px; position: absolute; top: -72px; width: 56px;"><div class="header-anchor-widget-button-container" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; display: flex; height: 1.2em; left: 0px; position: absolute; top: 72px; width: 40px;"><div class="header-anchor-widget-button" href="https://intelsense.substack.com/i/93496204/the-year-gone-by" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; border-radius: 50%; cursor: pointer; display: flex; height: 40px; justify-content: center; opacity: 0; width: 40px;"><svg class="header-anchor-widget-icon" fill="none" height="20" stroke-linecap="round" stroke-linejoin="round" stroke-width="2" stroke="currentColor" viewbox="0 0 24 24" width="20" xmlns="http://www.w3.org/2000/svg"></svg><span style="font-family: verdana;"><path d="M10 13a5 5 0 0 0 7.54.54l3-3a5 5 0 0 0-7.07-7.07l-1.72 1.71"></path><path d="M14 11a5 5 0 0 0-7.54-.54l-3 3a5 5 0 0 0 7.07 7.07l1.71-1.71"></path></span></div></div></div></h4><span style="font-family: verdana;"><span style="background-color: white;">Some of the memorable events during the year which we will probably remember for some time were:</span><br /><ul style="text-align: left;"><li><span style="font-family: verdana;"><span style="background-color: white;">Start of the Russia-Ukraine war.</span></span></li><li><span style="font-family: verdana;"><span style="background-color: white;">As per the IMF projections, India surpassed the UK to become the fifth-largest economy.</span></span></li><li><span style="font-family: verdana;"><span style="background-color: white;">The world population reached 8 billion on November 15, with India being the largest contributor to the milestone, according to the United Nations (UN). India added 177 million to the final score.</span></span></li><li><span style="font-family: verdana;"><span style="background-color: white;">After a legal battle, Elon Musk finally bought Twitter for $44 billion.</span></span></li><li><span style="font-family: verdana;"><span style="background-color: white;">Sri Lanka had a major economic crisis precipitated by Covid.</span></span></li><li><span style="font-family: verdana;"><span style="background-color: white;">Former Tata Sons Chairman Cyrus Mistry passed away in a car crash in Palghar.</span></span></li><li><span style="font-family: verdana;"><span style="background-color: white;">Rahul Bajaj, the chairman emeritus of the Indian conglomerate Bajaj Group, passed away. He was awarded the third-highest civilian award in India, the Padma Bhushan, in 2001.</span></span></li><li><span style="font-family: verdana;"><span style="background-color: white;">Passing away of Queen Elizabeth II, the longest-serving British monarch.</span></span></li><li><span style="font-family: verdana;"><span style="background-color: white;">Covid continued to rear its head from time to time and now is seeing an increase in some countries like China, which has done a 360-degree turnaround from a zero-Covid policy to a completely open policy in a matter of days.</span></span></li></ul></span><h4 class="header-with-anchor-widget" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; -webkit-font-smoothing: antialiased; background-color: white; font-weight: var(--font_weight_headings_preset, bold); line-height: 1.16em; margin: 1em 0px 0.625em; position: relative;"><span style="font-family: verdana;"><br /></span></h4><h4 class="header-with-anchor-widget" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; -webkit-font-smoothing: antialiased; background-color: white; font-weight: var(--font_weight_headings_preset, bold); line-height: 1.16em; margin: 1em 0px 0.625em; position: relative;"><span style="font-family: verdana;">Investing in 2022</span><div class="header-anchor-widget" id="§investing-in" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; height: 24.7875px; left: -56px; position: absolute; top: -72px; width: 56px;"><div class="header-anchor-widget-button-container" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; display: flex; height: 1.2em; left: 0px; position: absolute; top: 72px; width: 40px;"><div class="header-anchor-widget-button" href="https://intelsense.substack.com/i/93496204/investing-in" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; border-radius: 50%; cursor: pointer; display: flex; height: 40px; justify-content: center; opacity: 0; width: 40px;"><svg class="header-anchor-widget-icon" fill="none" height="20" stroke-linecap="round" stroke-linejoin="round" stroke-width="2" stroke="currentColor" viewbox="0 0 24 24" width="20" xmlns="http://www.w3.org/2000/svg"></svg><span style="font-family: verdana;"><path d="M10 13a5 5 0 0 0 7.54.54l3-3a5 5 0 0 0-7.07-7.07l-1.72 1.71"></path><path d="M14 11a5 5 0 0 0-7.54-.54l-3 3a5 5 0 0 0 7.07 7.07l1.71-1.71"></path></span></div></div></div></h4><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><span style="font-family: verdana;">This year was gruelling. Stocks went up and then came back time and again. So much so that most of them were flat by the year's end. Making money was difficult. Sometimes, when you do a retrospective analysis, it is difficult to figure out how tough it was, because you tend to ignore the intermediate drawdowns thinking you would have held on during them. Also, some feel that since you have “good quality” stocks, it is better to hold on to them, because they eventually come back up. This may not be always true, at least in the timeframe you are looking at. Sometimes, stocks of even great companies take years and even decades to reach their previous highs. One must always be cognizant of the opportunity cost of alternatives while investing.</span></p><h4 class="header-with-anchor-widget" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; -webkit-font-smoothing: antialiased; background-color: white; font-weight: var(--font_weight_headings_preset, bold); line-height: 1.16em; margin: 1em 0px 0.625em; position: relative;"><span style="font-family: verdana;"><br /></span></h4><h4 class="header-with-anchor-widget" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; -webkit-font-smoothing: antialiased; background-color: white; font-weight: var(--font_weight_headings_preset, bold); line-height: 1.16em; margin: 1em 0px 0.625em; position: relative;"><span style="font-family: verdana;">2023 - What lies in store?</span><div class="header-anchor-widget" id="§what-lies-in-store" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; height: 24.7875px; left: -56px; position: absolute; top: -72px; width: 56px;"><div class="header-anchor-widget-button-container" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; display: flex; height: 1.2em; left: 0px; position: absolute; top: 72px; width: 40px;"><div class="header-anchor-widget-button" href="https://intelsense.substack.com/i/93496204/what-lies-in-store" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; border-radius: 50%; cursor: pointer; display: flex; height: 40px; justify-content: center; opacity: 0; width: 40px;"><svg class="header-anchor-widget-icon" fill="none" height="20" stroke-linecap="round" stroke-linejoin="round" stroke-width="2" stroke="currentColor" viewbox="0 0 24 24" width="20" xmlns="http://www.w3.org/2000/svg"></svg><span style="font-family: verdana;"><path d="M10 13a5 5 0 0 0 7.54.54l3-3a5 5 0 0 0-7.07-7.07l-1.72 1.71"></path><path d="M14 11a5 5 0 0 0-7.54-.54l-3 3a5 5 0 0 0 7.07 7.07l1.71-1.71"></path></span></div></div></div></h4><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><span style="font-family: verdana;">India is looking to be on a relatively strong wicket. After nearly a decade, banks have cleaned up their balance sheets and overall credit growth is picking up. The credit growth of banks is at a 10-year high of 17.5%.</span></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><span style="font-family: verdana;"><br /></span></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><span style="font-family: verdana;">With just one more full budget before the 2024 elections, the expectation of a growth-led budget is high. Strong investment capex and social policies leading to incremental buying power for the masses augur well for consumer-facing companies. Government capex is at an 18-year high at 2.5% of GDP in 1HFY23.</span><span style="font-family: verdana;"> The PLI scheme-led investment is leading private capex. Just the trio of Tata, Ambani and Adani groups are planning an investment of $215bn in the next 5 yrs.</span></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><span style="font-family: verdana;"><br /></span></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><span style="font-family: verdana;"><span style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;">The really big investments are happening in the </span><strong style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;">transition sectors</strong><span style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;">: green energy, EV, 5G and tech/digital. This tailwind is being supported by the realignment of global supply chains – China+1, </span><em style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;">friendshoring etc</em><span style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;">.</span></span></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><span style="font-family: verdana;"><span style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0;"><br /></span></span></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><span style="font-family: verdana;">We are likely to see a peaking of inflation and stabilisation of interest rates, but inflation will not cool off easily. The big components of inflation in India have historically been oil and food. How oil prices behave is anybody’s guess but food inflation is not likely to come down much going by history. In addition, with China back in the global economy, there is expected to be significant demand for oil, metals and other commodities. Chinese markets have probably already bottomed out since we discussed this during the middle of the year.</span></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><span style="font-family: verdana;"><br /></span></p><h4 class="header-with-anchor-widget" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; -webkit-font-smoothing: antialiased; background-color: white; font-weight: var(--font_weight_headings_preset, bold); line-height: 1.16em; margin: 1em 0px 0.625em; position: relative;"><span style="font-family: verdana;">What should we do?</span><div class="header-anchor-widget" id="§what-should-we-do" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; height: 24.7875px; left: -56px; position: absolute; top: -72px; width: 56px;"><div class="header-anchor-widget-button-container" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; display: flex; height: 1.2em; left: 0px; position: absolute; top: 72px; width: 40px;"><div class="header-anchor-widget-button" href="https://intelsense.substack.com/i/93496204/what-should-we-do" style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; align-items: center; border-radius: 50%; cursor: pointer; display: flex; height: 40px; justify-content: center; opacity: 0; width: 40px;"><svg class="header-anchor-widget-icon" fill="none" height="20" stroke-linecap="round" stroke-linejoin="round" stroke-width="2" stroke="currentColor" viewbox="0 0 24 24" width="20" xmlns="http://www.w3.org/2000/svg"></svg><span style="font-family: verdana;"><path d="M10 13a5 5 0 0 0 7.54.54l3-3a5 5 0 0 0-7.07-7.07l-1.72 1.71"></path><path d="M14 11a5 5 0 0 0-7.54-.54l-3 3a5 5 0 0 0 7.07 7.07l1.71-1.71"></path></span></div></div></div></h4><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><span style="font-family: verdana;">Markets are likely to remain choppy atleast in H1FY24. Domestic consumption and capex-oriented plays are likely to perform better. Sectors like engineering, capital goods, infrastructure, real estate and autos are likely to remain at the forefront.</span></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><span style="font-family: verdana;"><br /></span></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><span style="font-family: verdana;">Select IT and pharma companies can be identified and added slowly into the portfolio.</span></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><span style="font-family: verdana;"><br /></span></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"><span style="font-family: verdana;">It is likely to continue to be a buy-on-dips kind of market for the next 2-3 yrs. It is better to continue sipping into the portfolio stocks or adding capital to your portfolio every month.</span></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; line-height: 1.6em; margin-bottom: 0px;"><span style="font-family: verdana;">Now is not the time to be afraid. It is the time to ignore the noise and silently accumulate.</span></p>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-5297910739720462639.post-76223405489517463352022-12-28T21:53:00.002-08:002022-12-28T21:53:21.490-08:00Year End Investor Session - Recording<p><span style="background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px;">Last evening, I had a short session to discuss the current market situation and what we expect for 2023.</span></p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;">Here is the recording:</p><p style="--tw-ring-color: rgb(59 130 246 / 0.5); --tw-ring-offset-color: #fff; --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-offset-width: 0px; --tw-ring-shadow: 0 0 #0000; --tw-rotate: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; background-color: white; color: #404040; font-family: Spectral, serif, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 19px; line-height: 1.6em; margin: 0 0 var(--size-20) 0;"></p><div class="gmail_quote" style="-webkit-text-stroke-width: 0px; background-color: white; color: #222222; font-family: Arial, Helvetica, sans-serif; font-size: small; font-style: normal; font-variant-caps: normal; font-variant-ligatures: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-decoration-color: initial; text-decoration-style: initial; text-decoration-thickness: initial; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px;"><div dir="ltr"><div><div data-smartmail="gmail_signature" dir="ltr"></div></div></div></div><p></p><div class="separator" style="clear: both; text-align: center;"><iframe allowfullscreen="" class="BLOG_video_class" height="266" src="https://www.youtube.com/embed/QxuWT_C9kQs" width="501" youtube-src-id="QxuWT_C9kQs"></iframe></div><br /><div class="gmail_default" style="-webkit-text-stroke-width: 0px; background-color: white; color: blue; font-family: verdana, sans-serif; font-size: small; font-style: normal; font-variant-caps: normal; font-variant-ligatures: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-decoration-color: initial; text-decoration-style: initial; text-decoration-thickness: initial; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px;"><br /></div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-5297910739720462639.post-32193344501483498542022-12-08T23:39:00.003-08:002022-12-08T23:39:20.140-08:00Curiosity@Intelsense<p> </p><div style="background-color: white; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" colspan="2" style="border-collapse: collapse; direction: ltr; padding: 0px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><div class="text-default" style="color: #030a10; cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 16px; line-height: 24px;"><div class="revue-p" style="margin: 0px;"><em>Multidisciplinary learning is one of the best ways to improve our investment acumen. Here is a summary of some of the best learnings of the week.</em></div></div></td></tr><tr><td class="introduction-spacer" style="border-collapse: collapse; font-size: 0px; padding: 40px 0px; word-break: break-word;"><p style="border-top: 1px solid rgb(225, 225, 225); font-size: 1px; margin: 0px; padding: 0px; width: 500px;"></p></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="background-color: white; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="center" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; border-spacing: 0px;"><tbody><tr><td style="border-collapse: collapse; width: 650px;"><img alt="" height="auto" src="https://s3.amazonaws.com/revue/items/images/019/519/341/mail/Curiosity_40intelsense.png?1670570621" style="border-radius: 0px; border: none; display: block; height: auto; line-height: 0px; outline: none; width: 500px;" title="" width="650" /></td></tr></tbody></table></td></tr><tr><td align="center" style="border-collapse: collapse; font-size: 0px; padding: 16px 0px 0px; word-break: break-word;"><div style="color: #95989c; cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 13px; line-height: 21px;"></div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="background-color: white; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><div class="text-default" style="cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 16px; line-height: 24px;"><div class="revue-p" style="margin: 0px;">This week I want to talk about CBDC.</div><div class="revue-p" style="margin: 0px;"> </div><div class="revue-p" style="margin: 0px;">CBDC is short for Central Bank Digital Currency. It is, as the name suggests, a digital form of currency issued by the central bank RBI. It is distinct from UPI, IMPS, NEFT and RTGS as these are not currencies but payment and money transfer mechanisms. In these payment mechanisms, money gets transferred from one bank account to another. While in CBDC that RBI has recently launched as a pilot, money will move from one digital (e.g. mobile) wallet to another digital wallet without going through the banks of either of the two transacting parties. In a sense, it is like giving cash in your wallet to a friend. Neither of your banks gets to know but money has moved from one person to the other.</div><div class="revue-p" style="margin: 0px;"> </div><div class="revue-p" style="margin: 0px;">The idea of CBDC or e₹-R is to make it a digital form of cash and it will be available in the same denominations as cash and it will be first distributed through banks.</div><div class="revue-p" style="margin: 0px;"> </div><div class="revue-p" style="margin: 0px;">Users will be able to transact with e₹-R through a digital wallet offered by the banks and stored on mobile phones and devices. Transactions can be both person-to-person (P2P) and person-to-merchant (P2M). Payments to merchants can be made using QR codes displayed at merchant locations. As per the RBI, “The e₹-R would offer features of physical cash like trust, safety and settlement finality. As in the case of cash, it will not earn any interest and can be converted to other forms of money, like deposits with banks”.</div><div class="revue-p" style="margin: 0px;"> </div><div class="revue-p" style="margin: 0px;">There are some benefits to e₹-R. It drastically reduces the cost of banknote printing and circulation. It also reduces the cost of transfers and remittances by cutting down on multiple intermediaries. Another important feature is that as it is issued directly by RBI, it will be a liability on the central bank’s balance sheet and not earn any interest for the end user.</div><div class="revue-p" style="margin: 0px;"> </div><div class="revue-p" style="margin: 0px;">The way it is currently structured, as an end-user, I find it indistinguishable from the systems we currently use. To me, it looks a lot like a solution in search of a problem. Maybe I am ignorant, or some use case will appear in the future that will make this a grand success, but for now, I can’t find a single compelling reason why I would prefer using e₹-R over the existing system already in place. I will keep tabs on this and keep updating you from time to time as and when something progresses.</div></div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="background-color: white; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px 0px 24px; word-break: break-word;"><div class="header-text" style="color: #226622; cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 24px; font-weight: 700; line-height: 32px;">Thought of the Week:</div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="background-color: white; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><div class="text-default" style="cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 16px; line-height: 24px;"><div class="revue-p" style="margin: 0px;"><em>“What information consumes is rather obvious: it consumes the attention of its recipients. Hence a wealth of information creates a poverty of attention, and a need to allocate that attention efficiently among the overabundance of information sources that might consume it.” ~ Herbert Simon</em></div><div class="revue-p" style="margin: 0px;"> </div><div class="revue-p" style="margin: 0px;">We need to be very very selective about how we filter information. Putting here a chat with a friend who is himself an extremely accomplished and disciplined investor. The idea is to use humans and AI to curate and suggest what you want to read, listen to or watch. Secondly, we need to be ruthless about protecting our time and attention. I used to feel very guilty about leaving a book or movie midway. Now I don’t care. If the subject does not intrigue me, then I am out.</div></div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="background-color: white; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="center" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; border-spacing: 0px;"><tbody><tr><td style="border-collapse: collapse; width: 650px;"><img alt="How to filter your inputs" height="auto" src="https://s3.amazonaws.com/revue/items/images/019/519/370/mail/Screenshot_2022-12-09_125558.png?1670570776" style="border-radius: 0px; border: none; display: block; height: auto; line-height: 0px; outline: none; width: 500px;" title="How to filter your inputs" width="650" /></td></tr></tbody></table></td></tr><tr><td align="center" style="border-collapse: collapse; font-size: 0px; padding: 16px 0px 0px; word-break: break-word;"><div style="color: #95989c; cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 13px; line-height: 21px;">How to filter your inputs</div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="background-color: white; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px 0px 24px; word-break: break-word;"><div class="header-text" style="color: #226622; cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 24px; font-weight: 700; line-height: 32px;">Video of the Week: How Amancio Ortega Created the Zara Empire</div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="background-color: white; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="center" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; border-spacing: 0px;"><tbody><tr><td style="border-collapse: collapse; width: 650px;"><a href="https://youtu.be/lvctkozxbYI?utm_campaign=Investing%20Thoughts%20from%20Abhishek%20Basumallick&utm_medium=email&utm_source=Revue%20newsletter" style="color: #3498db;" target="_blank"><img alt="How Amancio Ortega Created the Zara Empire" height="auto" src="https://s3.amazonaws.com/revue/items/images/019/519/408/mail/maxresdefault.jpg?1670570859" style="border-radius: 0px; border: none; display: block; height: auto; line-height: 0px; outline: none; text-decoration-line: none; width: 500px;" title="How Amancio Ortega Created the Zara Empire" width="600" /></a></td></tr></tbody></table></td></tr><tr><td align="center" style="border-collapse: collapse; font-size: 0px; padding: 16px 0px 0px; word-break: break-word;"><div style="color: #95989c; cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 13px; line-height: 21px;">How Amancio Ortega Created the Zara Empire</div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="background-color: white; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px 0px 24px; word-break: break-word;"><div class="header-text" style="color: #226622; cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 24px; font-weight: 700; line-height: 32px;">Insights@Intelsense</div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="background-color: white; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="center" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; border-spacing: 0px;"><tbody><tr><td style="border-collapse: collapse; width: 650px;"><img alt="Performance of Quiver Smallcase since inception (May 2021)" height="auto" src="https://s3.amazonaws.com/revue/items/images/019/519/513/mail/Screenshot_2022-12-09_130409.png?1670571280" style="border-radius: 0px; border: none; display: block; height: auto; line-height: 0px; outline: none; width: 500px;" title="Performance of Quiver Smallcase since inception (May 2021)" width="650" /></td></tr></tbody></table></td></tr><tr><td align="center" style="border-collapse: collapse; font-size: 0px; padding: 16px 0px 0px; word-break: break-word;"><div style="color: #95989c; cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 13px; line-height: 21px;">Performance of Quiver Smallcase since inception (May 2021)</div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="background-color: white; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><div class="text-default" style="cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 16px; line-height: 24px;"><div class="revue-p" style="margin: 0px;"><a href="https://intelsense.smallcase.com/smallcase/INSMO_0005?utm_campaign=Investing%20Thoughts%20from%20Abhishek%20Basumallick&utm_medium=email&utm_source=Revue%20newsletter" style="color: #3498db;" target="_blank">QUIVER smallcase</a> is a market-cap agnostic, trend-following system with a short-to-medium term horizon.</div><div class="revue-p" style="margin: 0px;">Min investment: 5 lakhs</div><div class="revue-p" style="margin: 0px;">Fees: 2% per year. 1/12th of 2% of the fees is deducted every month. It works out to approx INR 840-850 per month.</div><div class="revue-p" style="margin: 0px;">Link to subscribe: https://intelsense.smallcase.com/smallcase/INSMO_0005</div></div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="background-color: white; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="left" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="center" colspan="2" style="border-collapse: collapse; font-size: 0px; padding: 40px 0px; word-break: break-word;"></td></tr></tbody></table></div></td></tr></tbody></table></div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-5297910739720462639.post-38856875101639314952022-12-01T23:29:00.002-08:002022-12-01T23:29:40.175-08:00Curioity@Intelsense<p> </p><div style="background-color: white; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" colspan="2" style="border-collapse: collapse; direction: ltr; padding: 0px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><div class="text-default" style="color: #030a10; cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 16px; line-height: 24px;"><div class="revue-p" style="margin: 0px;"><em>Multidisciplinary learning is one of the best ways to improve our investment acumen. Here is a summary of some of the best learnings of the week.</em></div></div></td></tr><tr><td class="introduction-spacer" style="border-collapse: collapse; font-size: 0px; padding: 40px 0px; word-break: break-word;"><p style="border-top: 1px solid rgb(225, 225, 225); font-size: 1px; margin: 0px; padding: 0px; width: 500px;"></p></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="background-color: white; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="center" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; border-spacing: 0px;"><tbody><tr><td style="border-collapse: collapse; width: 650px;"><img alt="" height="auto" src="https://s3.amazonaws.com/revue/items/images/019/397/144/mail/Curiosity_40intelsense.png?1669966127" style="border-radius: 0px; border: none; display: block; height: auto; line-height: 0px; outline: none; width: 500px;" title="" width="650" /></td></tr></tbody></table></td></tr><tr><td align="center" style="border-collapse: collapse; font-size: 0px; padding: 16px 0px 0px; word-break: break-word;"><div style="color: #95989c; cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 13px; line-height: 21px;"></div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="background-color: white; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><div class="text-default" style="cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 16px; line-height: 24px;"><div class="revue-p" style="margin: 0px;">If you have been reading my blog for a while, you will know that I love writing. It helps me collate and clarify my thoughts. I usually write for an audience of one - myself. Paul Graham, one of the best essayists now, writes about why we need to write in <a href="http://paulgraham.com/read.html?utm_campaign=Investing%20Thoughts%20from%20Abhishek%20Basumallick&utm_medium=email&utm_source=Revue%20newsletter" style="color: #3498db;" target="_blank">this brilliant article</a>. He also ties in the fact that unless you read well, it will be difficult to write well.</div><div class="revue-p" style="margin: 0px;"> </div><div class="revue-p" style="margin: 0px;">The reason it would matter is that writing is not just a way to convey ideas, but also a way to have them.</div><div class="revue-p" style="margin: 0px;"> </div><div class="revue-p" style="margin: 0px;">A good writer doesn’t just think, and then write down what he thought, as a sort of transcript. A good writer will almost always discover new things in the process of writing. And there is, as far as I know, no substitute for this kind of discovery. Talking about your ideas with other people is a good way to develop them. But even after doing this, you’ll find you still discover new things when you sit down to write. There is a kind of thinking that can only be done by writing.</div><div class="revue-p" style="margin: 0px;"> </div><div class="revue-p" style="margin: 0px;">If you need to solve a complicated, ill-defined problem, it will almost always help to write about it. Which in turn means that someone who’s not good at writing will almost always be at a disadvantage in solving such problems.</div><div class="revue-p" style="margin: 0px;"> </div><div class="revue-p" style="margin: 0px;">Another brilliant collation I read this week is from Anil Tulsiram who takes wonderfully detailed notes of <a href="https://contrarianvalueedge.notion.site/Learning-for-Analysts-and-Future-Portfolio-Managers-with-Alix-Pasquet-III-5dedb6fc6c4c4befb0f688330f41a723?utm_campaign=Investing%20Thoughts%20from%20Abhishek%20Basumallick&utm_medium=email&utm_source=Revue%20newsletter" style="color: #3498db;" target="_blank">brilliant insights from Alix Pasquet III</a>.</div><div class="revue-p" style="margin: 0px;">Another problem with this is that an action in the past environment that could have be a mistake could be a total success in a different environment. So be careful, you want to learn from your mistakes, you want to be careful from learning too much for your mistakes. You know, no lesson is better than wrong lesson. You want to have a mistake evaluation process. And the key suggestion I would make there is to involve others, is to get feedback from others that will keep you intellectually honest. One thing to remember, by the way, is great investors all go through periods of mistakes.</div></div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="background-color: white; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px 0px 24px; word-break: break-word;"><div class="header-text" style="color: #226622; cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 24px; font-weight: 700; line-height: 32px;">Thought of the Week</div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="background-color: white; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><div class="text-default" style="cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 16px; line-height: 24px;"><div class="revue-p" style="margin: 0px;">I’m only rich because I know when I’m wrong. I have basically survived by recognising my mistakes. ~ George Soros</div><div class="revue-p" style="margin: 0px;"> </div><div class="revue-p" style="margin: 0px;">The main idea in both this thought and the insights from Alix Pasquet is that we need to be able to analyse our past actions for our mistakes. But while doing that we need to be watchful to understand the reason for the mistake and not just look at the outcome. At a different time, under a different circumstance, the outcome may be very different. The idea is to be able to put the odds of success in our favour if we do a particular activity repeatedly.</div></div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="background-color: white; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px 0px 24px; word-break: break-word;"><div class="header-text" style="color: #226622; cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 24px; font-weight: 700; line-height: 32px;">Video of the Week: Indian Debt and Equity markets: Aligning India’s future together</div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="background-color: white; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="center" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; border-spacing: 0px;"><tbody><tr><td style="border-collapse: collapse; width: 650px;"><a href="https://youtu.be/QMATdUGuaDQ?utm_campaign=Investing%20Thoughts%20from%20Abhishek%20Basumallick&utm_medium=email&utm_source=Revue%20newsletter" style="color: #3498db;" target="_blank"><img alt="Indian Debt and Equity markets: Aligning India’s future together" height="auto" src="https://s3.amazonaws.com/revue/items/images/019/397/124/mail/hqdefault.jpg?1669966043" style="border-radius: 0px; border: none; display: block; height: auto; line-height: 0px; outline: none; text-decoration-line: none; width: 500px;" title="Indian Debt and Equity markets: Aligning India’s future together" width="600" /></a></td></tr></tbody></table></td></tr><tr><td align="center" style="border-collapse: collapse; font-size: 0px; padding: 16px 0px 0px; word-break: break-word;"><div style="color: #95989c; cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 13px; line-height: 21px;">Indian Debt and Equity markets: Aligning India’s future together</div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="background-color: white; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px 0px 24px; word-break: break-word;"><div class="header-text" style="color: #226622; cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 24px; font-weight: 700; line-height: 32px;">Insights@Intelsense</div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="background-color: white; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="center" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; border-spacing: 0px;"><tbody><tr><td style="border-collapse: collapse; width: 650px;"><img alt="" height="auto" src="https://s3.amazonaws.com/revue/items/images/019/397/097/mail/Screenshot_2022-12-02_125207.png?1669965777" style="border-radius: 0px; border: none; display: block; height: auto; line-height: 0px; outline: none; width: 500px;" title="" width="650" /></td></tr></tbody></table></td></tr><tr><td align="center" style="border-collapse: collapse; font-size: 0px; padding: 16px 0px 0px; word-break: break-word;"><div style="color: #95989c; cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 13px; line-height: 21px;"></div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="background-color: white; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><div class="text-default" style="cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 16px; line-height: 24px;"><div class="revue-p" style="margin: 0px;">Quiver continues to perform well.</div><div class="revue-p" style="margin: 0px;">To subscribe: <a href="https://intelsense.smallcase.com/smallcase/INSMO_0005?utm_campaign=Investing%20Thoughts%20from%20Abhishek%20Basumallick&utm_medium=email&utm_source=Revue%20newsletter" style="color: #3498db;" target="_blank">https://intelsense.smallcase.com/smallcase/INSMO_0005</a></div><div class="revue-p" style="margin: 0px;">Minimum investment: 5 lakhs</div><div class="revue-p" style="margin: 0px;">Fees: 2% of capital per year. 1/12th of 2% gets deducted every month. Ex: For a capital of Rs 5 lakh, it works to around Rs 835-840 per month.</div></div></td></tr></tbody></table></div></td></tr></tbody></table></div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-5297910739720462639.post-82338953673133449522022-11-03T21:20:00.001-07:002022-11-03T21:20:49.848-07:00Curiosity@Intelsense<p> </p><div style="background-color: white; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" colspan="2" style="border-collapse: collapse; direction: ltr; padding: 0px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><div class="text-default" style="color: #030a10; cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 16px; line-height: 24px;"><div class="revue-p" style="margin: 0px;"><em>Multidisciplinary learning is one of the best ways to improve our investment acumen. Here is a summary of some of the best learnings of the week.</em></div></div></td></tr><tr><td class="introduction-spacer" style="border-collapse: collapse; font-size: 0px; padding: 40px 0px; word-break: break-word;"><p style="border-top: 1px solid rgb(225, 225, 225); font-size: 1px; margin: 0px; padding: 0px; width: 500px;"></p></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="background-color: white; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="center" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; border-spacing: 0px;"><tbody><tr><td style="border-collapse: collapse; width: 650px;"><img alt="" height="auto" src="https://s3.amazonaws.com/revue/items/images/018/923/948/mail/Curiosity_40intelsense.png?1667534637" style="border-radius: 0px; border: none; display: block; height: auto; line-height: 0px; outline: none; width: 500px;" title="" width="650" /></td></tr></tbody></table></td></tr><tr><td align="center" style="border-collapse: collapse; font-size: 0px; padding: 16px 0px 0px; word-break: break-word;"><div style="color: #95989c; cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 13px; line-height: 21px;"></div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="background-color: white; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><div class="text-default" style="cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 16px; line-height: 24px;"><div class="revue-p" style="margin: 0px;">It has been a while since I have been critical of “value investing”. I have friends who keep harping on value, value all the time and yet the main thing that they are looking at is PE. So, most “value investors” are closet cheap PE investors. Anand Sridharan has written about this extremely well in his article <a href="https://buggyhuman.substack.com/p/business-owner-not-value-investor?utm_campaign=Investing%20Thoughts%20from%20Abhishek%20Basumallick&utm_medium=email&utm_source=Revue%20newsletter" style="color: #3498db;" target="_blank">“Business owner, not value investor”</a>.</div><div class="revue-p" style="margin: 0px;"> </div><div class="revue-p" style="margin: 0px;">The term has become an oversimplified label for formulaic buying and selling of cheap crap with little regard for the nature of the underlying business. While this isn’t illegal, it is a misnomer. This activity is better represented by replacing “value” with “cheapness” in all media references. Cheapness investing, cheapness factor, cheapness index, cheapness style-box and cheapness screens. What is called value investing is often neither value nor investing.</div><div class="revue-p" style="margin: 0px;">This confusion is especially severe since the greatest proponent of the term – Warren Buffett – hasn’t practiced cheapness investing in five decades. “Value investing” ends up leading a double life, one referring to Buffett and his disciples and another to the mechanical application of cheapness filters.</div><div class="revue-p" style="margin: 0px;"> </div><div class="revue-p" style="margin: 0px;">The focus is entirely on business, not stock price. Before owning, we spend all our time understanding the nature of the business, the context it operates in, what makes it sustainably good and what risks can spoil the party. Many businesses will drop off our list, either because they’re clearly not worth owning or it’s simply too hard to reliably establish these traits. Likewise, after owning, our focus is entirely on whether the business continues to be worth owning.</div><div class="revue-p" style="margin: 0px;"> </div><div class="revue-p" style="margin: 0px;">Another subject which intrigues me is decision-making. It is an extremely difficult subject simply because you make a decision usually based on incomplete facts and assumptions about the future. The future may or may not turn out as you expected. The decision may or may not turn out to have been a good one but it will only be known in hindsight. One way of looking at decision-making is the one made famous by Jeff Bezos - that of <a href="https://fs.blog/reversible-irreversible-decisions/?utm_campaign=Investing%20Thoughts%20from%20Abhishek%20Basumallick&utm_medium=email&utm_source=Revue%20newsletter" style="color: #3498db;" target="_blank">reversible and irreversible decisions</a>.</div><div class="revue-p" style="margin: 0px;"> </div><div class="revue-p" style="margin: 0px;">Once you learn to see decisions through the lens of reversible and irreversible, everything changes. It also changes how you make decisions.</div><div class="revue-p" style="margin: 0px;"> </div><div class="revue-p" style="margin: 0px;">Make reversible decisions as soon as possible and make irreversible decisions as late as possible.</div><div class="revue-p" style="margin: 0px;"> </div><div class="revue-p" style="margin: 0px;">When decisions are reversible, make them fast. Your biggest risk is dragging your feet and not making a decision. The cost to acquire additional information isn’t worth the effort.</div><div class="revue-p" style="margin: 0px;"> </div><div class="revue-p" style="margin: 0px;">When decisions are irreversible, slow them down. The biggest risk is making the wrong decision. The cost to get the information we need to reduce uncertainty is worth the time and effort.</div></div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="background-color: white; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px 0px 24px; word-break: break-word;"><div class="header-text" style="color: #226622; cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 24px; font-weight: 700; line-height: 32px;">Thought of the Week:</div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="background-color: white; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><div class="text-default" style="cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 16px; line-height: 24px;"><div class="revue-p" style="margin: 0px;">“There will come a time when you believe everything is finished. That will be the beginning.”</div><div class="revue-p" style="margin: 0px;">— Louis L'Amour</div><div class="revue-p" style="margin: 0px;"> </div><div class="revue-p" style="margin: 0px;">Every bear market hides the side of a bull market in it. And vice versa. </div></div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="background-color: white; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px 0px 24px; word-break: break-word;"><div class="header-text" style="color: #226622; cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 24px; font-weight: 700; line-height: 32px;">Audio/Video of the Week:</div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="background-color: white; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="center" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; border-spacing: 0px;"><tbody><tr><td style="border-collapse: collapse; width: 650px;"><a href="https://youtu.be/wVYZFNCmrBI?utm_campaign=Investing%20Thoughts%20from%20Abhishek%20Basumallick&utm_medium=email&utm_source=Revue%20newsletter" style="color: #3498db;" target="_blank"><img alt="Complete story of Israel & Palestine conflict | Jews vs Arabs | Jerusalem | Dr. Vikas Divyakirti" height="auto" src="https://s3.amazonaws.com/revue/items/images/018/924/018/mail/maxresdefault.jpg?1667535150" style="border-radius: 0px; border: none; display: block; height: auto; line-height: 0px; outline: none; text-decoration-line: none; width: 500px;" title="Complete story of Israel & Palestine conflict | Jews vs Arabs | Jerusalem | Dr. Vikas Divyakirti" width="600" /></a></td></tr></tbody></table></td></tr><tr><td align="center" style="border-collapse: collapse; font-size: 0px; padding: 16px 0px 0px; word-break: break-word;"><div style="color: #95989c; cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 13px; line-height: 21px;">Complete story of Israel & Palestine conflict | Jews vs Arabs | Jerusalem | Dr. Vikas Divyakirti</div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="background-color: white; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><div class="text-default" style="cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 16px; line-height: 24px;"><div class="revue-p" style="margin: 0px;">This is in hindi. But by far the best and most comprehensive summary of the Israel-Palestine conflict. Dr Divyakirti is a fantastic teacher and explains things in a calm, composed manner starting from the biblical roots and traces down a couple of thousand years to the current events.</div><div class="revue-p" style="margin: 0px;">This is a wonderful watch if you wish to understand the genesis of the longest-standing conflicts of human history.</div></div></td></tr></tbody></table></div></td></tr></tbody></table></div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-5297910739720462639.post-36673145758525202762022-11-02T05:51:00.001-07:002022-11-02T05:51:12.883-07:00Lessons from Charlie Munger's Folly<p> </p><div style="background-color: white; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><div class="text-default" style="cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 16px; line-height: 24px;"><div class="revue-p" style="margin: 0px;"><strong>It’s good to learn from your mistakes.</strong> <strong>It’s better to learn from other people’s mistakes</strong>. ~ Warren Buffett</div><div class="revue-p" style="margin: 0px;"> </div><div class="revue-p" style="margin: 0px;">This quote has been embedded in my mind since I first read it. So, I try to observe the world and keep reflecting on the mistakes that I and that others around me make. There is a lot to learn. Today, I will discuss one such mistake. And one made by, perhaps, the person I admire most – Charlie Munger. So, when our guru makes a mistake, you should sit up and take notice.</div></div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="background-color: white; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px 0px 24px; word-break: break-word;"><div class="header-text" style="color: #226622; cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 24px; font-weight: 700; line-height: 32px;">The Alibaba Saga</div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="background-color: white; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><div class="text-default" style="cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 16px; line-height: 24px;"><div class="revue-p" style="margin: 0px;">Here is what happened. Charlie Munger took a bet on the Chinese giant Alibaba. This was just before the Chinese government decided that Jack Ma had grown too big for their comfort and pared his wings. Munger bought his initial stake at around $246 per share. So far so good. Alibaba was a giant in China. It was one of the largest B2B and C2C ecommerce sites in the world. Alibaba was on its way to launching the largest IPO on the Shanghai Exchange in Oct 2020. Just before this, Ma addressed an assembly of high-profile figures in China with a controversial speech that criticised the Chinese financial system. And then suddenly, he practically went missing for three months.</div><div class="revue-p" style="margin: 0px;">This more or less started the crash in Alibaba’s stock. From above $300 it has now crashed to close to $70, an overall fall close to 75%. </div></div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="background-color: white; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="center" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; border-spacing: 0px;"><tbody><tr><td style="border-collapse: collapse; width: 650px;"><img alt="Alibaba monthly price chart" height="auto" src="https://s3.amazonaws.com/revue/items/images/018/781/450/mail/Screenshot_2022-10-27_120934.png?1666853557" style="border-radius: 0px; border: none; display: block; height: auto; line-height: 0px; outline: none; width: 500px;" title="Alibaba monthly price chart" width="650" /></td></tr></tbody></table></td></tr><tr><td align="center" style="border-collapse: collapse; font-size: 0px; padding: 16px 0px 0px; word-break: break-word;"><div style="color: #95989c; cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 13px; line-height: 21px;">Alibaba monthly price chart</div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="background-color: white; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><div class="text-default" style="cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 16px; line-height: 24px;"><div class="revue-p" style="margin: 0px;"><em>source: tradingview.com</em></div><div class="revue-p" style="margin: 0px;"></div><div class="revue-p" style="margin: 0px;">Munger probably convinced this was a passing phase and things will get back to normal after Jack Ma is “taught” a lesson in adhering to the government line, doubled down and kept adding as the stock kept falling. He added substantial quantities in the Jul-Sep quarter around $182 and again in the Oct-Dec quarter around $145. Each time he nearly doubled his position from before. He probably realised his mistake and sold half his position in the Jan-Mar quarter of 2022 at $115. Today the stock price is around $70.</div></div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="background-color: white; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="center" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; border-spacing: 0px;"><tbody><tr><td style="border-collapse: collapse; width: 650px;"><img alt="Munger kept averaging down before booking partial losses" height="auto" src="https://s3.amazonaws.com/revue/items/images/018/781/455/mail/Screenshot_2022-10-27_122239.png?1666853578" style="border-radius: 0px; border: none; display: block; height: auto; line-height: 0px; outline: none; width: 500px;" title="Munger kept averaging down before booking partial losses" width="650" /></td></tr></tbody></table></td></tr><tr><td align="center" style="border-collapse: collapse; font-size: 0px; padding: 16px 0px 0px; word-break: break-word;"><div style="color: #95989c; cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 13px; line-height: 21px;">Munger kept averaging down before booking partial losses</div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="background-color: white; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><div class="text-default" style="cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 16px; line-height: 24px;"><div class="revue-p" style="margin: 0px;"><em>Source: gurufocus.com</em></div></div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="background-color: white; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px 0px 24px; word-break: break-word;"><div class="header-text" style="color: #226622; cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 24px; font-weight: 700; line-height: 32px;">The Lessons</div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="background-color: white; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><div class="text-default" style="cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 16px; line-height: 24px;"><div class="revue-p" style="margin: 0px;"></div><div class="revue-p" style="margin: 0px;">When I sit and think about this trade, here are the lessons I draw from it.</div><ol class="revue-ol" style="margin-top: 14px;"><li style="margin: 0px;"><strong>Macro matters</strong> - Nothing really changed in the company. The underlying macro factors changed. The company kept doing the same business it was doing in 2019, yet the stock is down 75%. So, those who say that macro does not matter are simply wrong.</li><li style="margin: 0px;"><strong>Psychological Bias Impacts All </strong>– Even if you have devoted your life to studying and understanding human biases, no one is immune from them. The steadfast belief, a form of <strong>narrative fallacy bias</strong>, in the superior “Chinese system” that Munger kept alluding to in many of his talks probably blindsided him. Any autocratic system provides great results but only as long as the system works in your interests. If it works in the opposite interests, then the downside could also be equally large. <strong>Authority bias</strong> may also have had a role to play. Li Lu recommended Alibaba to Munger. Previously, Li Lu had recommended BYD, a Chinese EV giant, and Munger had invested in it and made significant profits. Li Lu is a Chinese-born American investor and familiarity with Chinese businesses was a major advantage for him. Li Lu is also the only person that Munger has given his own money to manage, so one can understand the trust he has in his views. Thirdly, <strong>social proof</strong>, also probably played a role. Munger had taken a very large and visible position. He had spoken about the great Chinese system. He had praised the Chinese government for stepping in “preemptively to stop speculation”. The challenge with mental biases is when you have a number of them lined up together, they combine and create a lollapalooza effect which has the potential to completely blindside a person.</li><li style="margin: 0px;"><strong>Lack of risk management system</strong> – It does not matter how great an investor you are, you will make mistakes from time to time. There has to be a safety net that you create for yourself when you make a mistake. The one that works well is to use a stop loss. The simple reason is that it puts a floor to the maximum loss to your capital. It lets you get out of your position and then assess more objectively if there is something wrong with your thesis. The worst that can happen is after reviewing your thesis if you think that the stock is still worth buying, you can always buy it back. Otherwise, you are paralysed with a stock with falling prices and keep hoping that something will happen to turn it around. Hope is never a good investment strategy.</li></ol></div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="background-color: white; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px 0px 24px; word-break: break-word;"><div class="header-text" style="color: #226622; cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 24px; font-weight: 700; line-height: 32px;">Summary</div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="background-color: white; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><div class="text-default" style="cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 16px; line-height: 24px;"><div class="revue-p" style="margin: 0px;">Mistakes will be made. You need to keep your guard high all the time. As Richard Feynman famously said, “You must not fool yourself, and you are the easiest person to fool.” As investors, most of the time we keep fooling ourselves. The best way is to have a focus on building processes that will firstly, prevent you making a mistake, and secondly, even if you do, will protect you from making great damage to your portfolio.</div></div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="background-color: white; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><div class="text-default" style="cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 16px; line-height: 24px;"><div class="revue-p" style="margin: 0px;"><em>Note: This article was first published on </em><a href="https://economictimes.indiatimes.com/markets/stocks/news/3-investing-lessons-from-a-mistake-by-charlie-munger/articleshow/95247954.cms?utm_campaign=Investing%20Thoughts%20from%20Abhishek%20Basumallick&utm_medium=email&utm_source=Revue%20newsletter" style="color: #3498db;" target="_blank"><em>The Economic Times</em></a><em>.</em></div></div></td></tr></tbody></table></div></td></tr></tbody></table></div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-5297910739720462639.post-47625190923945238032022-10-27T23:14:00.004-07:002022-10-27T23:14:40.782-07:00Curiosity@Intelsense<p> </p><div class="Ar Au Ao" id=":nn"><div aria-controls=":qi" aria-label="Message Body" aria-multiline="true" aria-owns=":qi" class="Am Al editable LW-avf tS-tW tS-tY" g_editable="true" hidefocus="true" id=":nj" role="textbox" spellcheck="false" style="direction: ltr; min-height: 397px;" tabindex="1"><div class="gmail_default" style="color: blue; font-family: verdana,sans-serif;"><div style="color: black; font-family: "Times New Roman"; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="gmail-indented" colspan="2" style="border-collapse: collapse; direction: ltr; padding: 0px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="gmail-mj-column-per-100 gmail-outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><div class="gmail-text-default" style="color: #030a10; cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 16px; line-height: 24px;"><div class="gmail-revue-p" style="margin: 0px;"><em>Multidisciplinary learning is one of the best ways to improve our investment acumen. Here is a summary of some of the best learnings of the week.</em></div></div></td></tr><tr><td class="gmail-introduction-spacer" style="border-collapse: collapse; font-size: 0px; padding: 40px 0px; word-break: break-word;"><p style="border-top: 1px solid rgb(225, 225, 225); font-size: 1px; margin: 0px; padding: 0px; width: 500px;"></p></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="color: black; font-family: "Times New Roman"; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="gmail-indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="gmail-mj-column-per-100 gmail-outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="center" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; border-spacing: 0px;"><tbody><tr><td style="border-collapse: collapse; width: 650px;"><img alt="" height="auto" src="https://s3.amazonaws.com/revue/items/images/018/799/796/mail/Curiosity_40intelsense.png?1666936492" style="border-radius: 0px; border: none; display: block; height: auto; line-height: 0px; outline: none; width: 500px;" title="" width="650" /></td></tr></tbody></table></td></tr><tr><td align="center" style="border-collapse: collapse; font-size: 0px; padding: 16px 0px 0px; word-break: break-word;"><div style="color: #95989c; cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 13px; line-height: 21px;"></div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="color: black; font-family: "Times New Roman"; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="gmail-indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="gmail-mj-column-per-100 gmail-outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><div class="gmail-text-default" style="cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 16px; line-height: 24px;"><div class="gmail-revue-p" style="margin: 0px;">China and the US are at the forefront of the new cold war. History teaches us that there is armed conflict when one superpower tries to challenge another existing superpower. This is known as the <strong>Thucydides Trap</strong>. <a href="https://www.economist.com/briefing/2022/10/13/china-and-the-west-are-in-a-race-to-foster-innovation?utm_campaign=Investing%20Thoughts%20from%20Abhishek%20Basumallick&utm_medium=email&utm_source=Revue%20newsletter" style="color: #3498db;" target="_blank">This time around the conflict could potentially be around technology and commerce.</a></div><div class="gmail-revue-p" style="margin: 0px;">In 2008 China spent a third as much as America did on R&D and about half as much as Europe, after adjusting for differences in the cost of living. By 2014 it had surpassed Europe. By 2020 its spending was 85% of America’s.</div><div class="gmail-revue-p" style="margin: 0px;"> </div><div class="gmail-revue-p" style="margin: 0px;">The fruits of this investment are becoming apparent: in August a Japanese research institute calculated that China now produces more of the world’s most highly cited academic research than America does. Since 2015 more patents have been issued in China than in America. China’s output of a basket of sophisticated goods including information technology, pharmaceuticals and electronics is expected to surpass America’s this year, according to a report published by the Information Technology and Innovation Foundation, an American think-tank. “China has become a serious competitor in the foundational technologies of the 21st century,” concluded another report last year from the Belfer Centre at Harvard University.</div><div class="gmail-revue-p" style="margin: 0px;"> </div><div class="gmail-revue-p" style="margin: 0px;">From war to an emerging new trend in commerce. <a href="https://www.mckinsey.com/capabilities/growth-marketing-and-sales/our-insights/social-commerce-the-future-of-how-consumers-interact-with-brands?utm_campaign=Investing%20Thoughts%20from%20Abhishek%20Basumallick&utm_medium=email&utm_source=Revue%20newsletter" style="color: #3498db;" target="_blank">Social commerce</a>, or the act of buying through and after being influenced by social media, is silently growing. Already enormously popular in markets such as China, social commerce remains a small but rapidly growing segment in the United States. In 2021, $37 billion in goods and services were purchased through social-commerce channels.</div><div class="gmail-revue-p" style="margin: 0px;"> </div><div class="gmail-revue-p" style="margin: 0px;">By 2025, that figure is expected to swell to nearly $80 billion, or 5% of total US e-commerce. Globally, the social-commerce market is expected to grow to more than $2 trillion by 2025.</div></div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="color: black; font-family: "Times New Roman"; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="gmail-indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="gmail-mj-column-per-100 gmail-outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="center" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; border-spacing: 0px;"><tbody><tr><td style="border-collapse: collapse; width: 650px;"><img alt="Sales Growth of Social Commerce in the US" height="auto" src="https://s3.amazonaws.com/revue/items/images/018/799/756/mail/social_commerce.png?1666936268" style="border-radius: 0px; border: none; display: block; height: auto; line-height: 0px; outline: none; width: 500px;" title="Sales Growth of Social Commerce in the US" width="650" /></td></tr></tbody></table></td></tr><tr><td align="center" style="border-collapse: collapse; font-size: 0px; padding: 16px 0px 0px; word-break: break-word;"><div style="color: #95989c; cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 13px; line-height: 21px;">Sales Growth of Social Commerce in the US</div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="color: black; font-family: "Times New Roman"; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="gmail-indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="gmail-mj-column-per-100 gmail-outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><div class="gmail-text-default" style="cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 16px; line-height: 24px;"><div class="gmail-revue-p" style="margin: 0px;">I was interviewed by the Business Today channel and shared some thoughts on the market. The interview was geared more towards the real estate sector. Here is the link to the interview.</div></div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="color: black; font-family: "Times New Roman"; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="gmail-indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="gmail-mj-column-per-100 gmail-outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="center" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; border-spacing: 0px;"><tbody><tr><td style="border-collapse: collapse; width: 650px;"><a href="https://youtu.be/lE2DR0Djqvc?utm_campaign=Investing%20Thoughts%20from%20Abhishek%20Basumallick&utm_medium=email&utm_source=Revue%20newsletter" style="color: #3498db;" target="_blank"><img alt="Realty Remains Firm In Trade, Analysing Anarock Report On Housing Sales In Top 7 Cities" height="auto" src="https://s3.amazonaws.com/revue/items/images/018/799/817/mail/maxresdefault.jpg?1666936681" style="border-radius: 0px; border: none; display: block; height: auto; line-height: 0px; outline: none; text-decoration-line: none; width: 500px;" title="Realty Remains Firm In Trade, Analysing Anarock Report On Housing Sales In Top 7 Cities" width="600" /></a></td></tr></tbody></table></td></tr><tr><td align="center" style="border-collapse: collapse; font-size: 0px; padding: 16px 0px 0px; word-break: break-word;"><div style="color: #95989c; cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 13px; line-height: 21px;">Realty Remains Firm In Trade, Analysing Anarock Report On Housing Sales In Top 7 Cities</div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="color: black; font-family: "Times New Roman"; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="gmail-indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="gmail-mj-column-per-100 gmail-outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px 0px 24px; word-break: break-word;"><div class="gmail-header-text" style="color: #226622; cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 24px; font-weight: 700; line-height: 32px;">Thought of the Week:</div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="color: black; font-family: "Times New Roman"; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="gmail-indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="gmail-mj-column-per-100 gmail-outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><div class="gmail-text-default" style="cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 16px; line-height: 24px;"><div class="gmail-revue-p" style="margin: 0px;"></div><div class="gmail-revue-blockquote" style="border-color: rgb(224, 228, 232); border-left-style: solid; border-left-width: 2px; color: #7a889a; line-height: inherit; margin: 0px 0px 14px; padding: 0px 20px;">“The secret to doing good research is always to be a little underemployed. You waste years by not being able to waste hours.” – Amos Tversky</div><div class="gmail-revue-p" style="margin: 0px;">This is a very important thought. Time management gurus will tell you to timebox your calendar and pack your schedule, accounting for every hour of your day. But if you are always doing something, when are you thinking? When are you letting your mind wander to make connections between the ideas that may be swirling just beneath the surface of your conscious mind? It is important to have a little slack in your schedule. Just be slightly underemployed.</div></div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="color: black; font-family: "Times New Roman"; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="gmail-indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="gmail-mj-column-per-100 gmail-outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px 0px 24px; word-break: break-word;"><div class="gmail-header-text" style="color: #226622; cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 24px; font-weight: 700; line-height: 32px;">Audio/Video of the Week: ASML's Secret: An exclusive view from inside the global semiconductor giant</div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="color: black; font-family: "Times New Roman"; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="gmail-indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="gmail-mj-column-per-100 gmail-outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><div class="gmail-text-default" style="cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 16px; line-height: 24px;"><div class="gmail-revue-p" style="margin: 0px;">In the Netherlands stands one of the world’s biggest drivers of technological progress: ASML. It supplies machines that make chips on a scale of just a few nanometers. And the world is crying out for chips.</div><div class="gmail-revue-p" style="margin: 0px;">ASML makes the most advanced machine in the world; the lithography machine to make computer chips. And with chips as a strategic asset, ASML and its machine are at the center of the world geo-political stage. What is ASML’s secret, and who are the people who build this wondrous machine? This is a wonderful documentary on ASML and how the semiconductor industry is shaping up in the age of geopolitical conflicts.</div></div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="color: black; font-family: "Times New Roman"; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="gmail-indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="gmail-mj-column-per-100 gmail-outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="center" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; border-spacing: 0px;"><tbody><tr><td style="border-collapse: collapse; width: 650px;"><a href="https://youtu.be/zQu_TMgHO98?utm_campaign=Investing%20Thoughts%20from%20Abhishek%20Basumallick&utm_medium=email&utm_source=Revue%20newsletter" style="color: #3498db;" target="_blank"><img alt="ASML's Secret: An exclusive view from inside the global semiconductor giant | VPRO Documentary" height="auto" src="https://s3.amazonaws.com/revue/items/images/018/799/767/mail/maxresdefault.jpg?1666936342" style="border-radius: 0px; border: none; display: block; height: auto; line-height: 0px; outline: none; text-decoration-line: none; width: 500px;" title="ASML's Secret: An exclusive view from inside the global semiconductor giant | VPRO Documentary" width="600" /></a></td></tr></tbody></table></td></tr><tr><td align="center" style="border-collapse: collapse; font-size: 0px; padding: 16px 0px 0px; word-break: break-word;"><div style="color: #95989c; cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 13px; line-height: 21px;">ASML's Secret: An exclusive view from inside the global semiconductor giant | VPRO Documentary</div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="color: black; font-family: "Times New Roman"; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="gmail-indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="gmail-mj-column-per-100 gmail-outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px 0px 24px; word-break: break-word;"><div class="gmail-header-text" style="color: #226622; cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 24px; font-weight: 700; line-height: 32px;">Intelsense Insights:</div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="color: black; font-family: "Times New Roman"; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="gmail-indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="gmail-mj-column-per-100 gmail-outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><div class="gmail-text-default" style="cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 16px; line-height: 24px;"><div class="gmail-revue-p" style="margin: 0px;"><a href="https://intelsense.smallcase.com/smallcase/INSMO_0005?utm_campaign=Investing%20Thoughts%20from%20Abhishek%20Basumallick&utm_medium=email&utm_source=Revue%20newsletter" style="color: #3498db;" target="_blank">Quiver smallcase</a> continued its stellar performance last month. It was up 7.15% in the last month in a turbulent market.</div><div class="gmail-revue-p" style="margin: 0px;"><br /></div><div class="gmail-revue-p" style="margin: 0px;">To subscribe to Quiver: <a href="https://intelsense.smallcase.com/smallcase/INSMO_0005?utm_campaign=Investing%20Thoughts%20from%20Abhishek%20Basumallick&utm_medium=email&utm_source=Revue%20newsletter" style="color: #3498db;" target="_blank">https://intelsense.smallcase.com/smallcase/INSMO_0005</a></div><div class="gmail-revue-p" style="margin: 0px;"><br /></div><div class="gmail-revue-p" style="margin: 0px;">Min investment is 5 lakhs. The fees are 2% per year. 1/12th of the total fees is deducted every month. So, for a corpus of 5 lakhs, the monthly fees would be around Rs 830-850 (depending on the exact capital value during the month).</div></div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="color: black; font-family: "Times New Roman"; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="gmail-indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="gmail-mj-column-per-100 gmail-outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="center" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; border-spacing: 0px;"><tbody><tr><td style="border-collapse: collapse; width: 650px;"><img alt="Quiver performance (since inception)" height="auto" src="https://s3.amazonaws.com/revue/items/images/018/799/833/mail/Screenshot_2022-10-28_111524.png?1666936742" style="border-radius: 0px; border: none; display: block; height: auto; line-height: 0px; outline: none; width: 500px;" title="Quiver performance (since inception)" width="650" /></td></tr></tbody></table></td></tr><tr><td align="center" style="border-collapse: collapse; font-size: 0px; padding: 16px 0px 0px; word-break: break-word;"><div style="color: #95989c; cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 13px; line-height: 21px;">Quiver performance (since inception)</div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="color: black; font-family: "Times New Roman"; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="gmail-indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="gmail-mj-column-per-100 gmail-outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><div class="gmail-text-default" style="cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 16px; line-height: 24px;"><div class="gmail-revue-p" style="margin: 0px;"><strong>Footnote:</strong></div><div class="gmail-revue-p" style="margin: 0px;">You can sign up at <a href="https://www.getrevue.co/profile/intelsense?utm_campaign=Investing%20Thoughts%20from%20Abhishek%20Basumallick&utm_medium=email&utm_source=Revue%20newsletter" style="color: #3498db;" target="_blank">https://www.getrevue.co/profile/intelsense</a> to receive all blogs from me directly into your inbox.</div><div class="gmail-revue-p" style="margin: 0px;"> </div><div class="gmail-revue-p" style="margin: 0px;">To subscribe to any of Intelsense Research services, visit <a href="http://www.intelsense.in/?utm_campaign=Investing%20Thoughts%20from%20Abhishek%20Basumallick&utm_medium=email&utm_source=Revue%20newsletter" style="color: #3498db;" target="_blank">www.intelsense.in</a>. If you wish to know more about our PMS offerings, mail us at <a href="mailto:equity@intelsense.in?utm_campaign=Investing%20Thoughts%20from%20Abhishek%20Basumallick&utm_medium=email&utm_source=Revue%20newsletter" style="color: #3498db;" target="_blank">equity@intelsense.in</a></div></div></td></tr></tbody></table></div></td></tr></tbody></table></div></div></div></div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-5297910739720462639.post-78654487479985256632022-10-19T07:16:00.001-07:002022-10-19T07:16:22.693-07:00National Logistics Policy – A Brief Look<table align="left" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px; vertical-align: top;"><br /></td></tr></tbody></table><div style="margin: 0px 20px; max-width: 650px;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="center" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; border-spacing: 0px;"><tbody><tr><td style="border-collapse: collapse; width: 650px;"><img alt="" height="auto" src="https://s3.amazonaws.com/revue/items/images/018/628/501/mail/topbanner.png?1666188874" style="border-radius: 0px; border: none; display: block; height: auto; line-height: 0px; outline: none; width: 500px;" title="" width="650" /></td></tr></tbody></table></td></tr><tr><td align="center" style="border-collapse: collapse; font-size: 0px; padding: 16px 0px 0px; word-break: break-word;"><div style="color: #95989c; cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 13px; line-height: 21px;"></div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="margin: 0px 20px; max-width: 650px;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><div class="text-default" style="cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 16px; line-height: 24px;"><div class="revue-p" style="margin: 0px;">National Logistics Policy 2022 is a policy initiative aimed at improving India’s overall efficiency in logistics. Here we take a brief look at what it means.</div></div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="margin: 0px 20px; max-width: 650px;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px 0px 24px; word-break: break-word;"><div class="header-text" style="color: #226622; cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 24px; font-weight: 700; line-height: 32px;">Major hurdles in the logistics industry:</div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="margin: 0px 20px; max-width: 650px;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><div class="text-default" style="cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 16px; line-height: 24px;"><div class="revue-p" style="margin: 0px;">India’s logistics costs amount to 13% to 15% of GDP. The country ranks 44th in logistics, while the economy ranks fifth in the world.</div><div class="revue-p" style="margin: 0px;">Indian long-haul logistics is dependent largely on road transport as bottlenecks in their means of transport like railways and waterways abound.</div><div class="revue-p" style="margin: 0px;">Trucks in India run around 300 kms in a day compared to a global average of 400-500 km. Out of this, the empty drive rate is as high as 40% - the primary reason being a lack of information and coordination.</div><div class="revue-p" style="margin: 0px;">The railway is the second most opted medium in the country. However, both goods trains and passenger trains are run on the same rails and the passenger trains are given higher importance. Safety from damage and theft is inadequate and leaves businesses open to liabilities during goods transport. Moreover, dependency on other modes to transport goods through rail as the railway network is not always closely integrated with manufacturing and warehousing hubs.</div></div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="margin: 0px 20px; max-width: 650px;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="center" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; border-spacing: 0px;"><tbody><tr><td style="border-collapse: collapse; width: 650px;"><img alt="Cost per ton-km across various modes in India" height="auto" src="https://s3.amazonaws.com/revue/items/images/018/626/868/mail/cost.png?1666183583" style="border-radius: 0px; border: none; display: block; height: auto; line-height: 0px; outline: none; width: 500px;" title="Cost per ton-km across various modes in India" width="650" /></td></tr></tbody></table></td></tr><tr><td align="center" style="border-collapse: collapse; font-size: 0px; padding: 16px 0px 0px; word-break: break-word;"><div style="color: #95989c; cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 13px; line-height: 21px;">Cost per ton-km across various modes in India</div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="margin: 0px 20px; max-width: 650px;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px 0px 24px; word-break: break-word;"><div class="header-text" style="color: #226622; cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 24px; font-weight: 700; line-height: 32px;">What is the government trying to achieve with the New Logistics Policy?</div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="margin: 0px 20px; max-width: 650px;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><div class="text-default" style="cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 16px; line-height: 24px;"><div class="revue-p" style="margin: 0px;">The main objective is to reduce costs incurred in logistics from 15% to around 8% of the GDP in the coming years.</div><div class="revue-p" style="margin: 0px;">This should help in building an efficient warehousing system and creating hubs or centres for streamlining the entire supply chain process and reducing the bureaucracy and promoting cooperative federalism in trade and commerce.</div><div class="revue-p" style="margin: 0px;">Reduced logistics costs should help in the accelerated growth of enterprises, SMEs and MSMEs thereby generating more employment opportunities and the development of human capital.</div><div class="revue-p" style="margin: 0px;">It should also help in the emphasis on “Supply Chain Management” as an area of study and career.</div></div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="margin: 0px 20px; max-width: 650px;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px 0px 24px; word-break: break-word;"><div class="header-text" style="color: #226622; cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 24px; font-weight: 700; line-height: 32px;">Methods proposed under the policy</div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="margin: 0px 20px; max-width: 650px;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><div class="text-default" style="cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 16px; line-height: 24px;"><div class="revue-p" style="margin: 0px;">NLP proposes a <strong>Unified Logistics Interface Platform(ULIP)</strong> - a single portal comprising all the digital services related to logistics bringing together the unorganised service providers to standardise cost. </div><div class="revue-p" style="margin: 0px;">A common tracking of inventory levels to better facilitate the demand addressing capacity and introduction of advanced technology in tracking and coordination of various services.</div><div class="revue-p" style="margin: 0px;"><strong>Ease of Logistics Service (ELOG)</strong> will be launched for grievance redressal and support to aid the continued smooth functioning of operations.</div><div class="revue-p" style="margin: 0px;">ULIP is also to be well integrated with digital tools across the logistics value chain to provide an end-to-end dashboard for efficient planning and execution.</div><div class="revue-p" style="margin: 0px;">30 logistics systems of 7 Ministries/Departments have been integrated through 102 APIs with ULIP. The aim is to create a UPI kind of structure in which every single transaction of the logistics department can be authenticated.</div></div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="margin: 0px 20px; max-width: 650px;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="center" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; border-spacing: 0px;"><tbody><tr><td style="border-collapse: collapse; width: 650px;"><img alt="Integration of ULIP with other digital tools" height="auto" src="https://s3.amazonaws.com/revue/items/images/018/628/072/mail/ulip.png?1666186972" style="border-radius: 0px; border: none; display: block; height: auto; line-height: 0px; outline: none; width: 500px;" title="Integration of ULIP with other digital tools" width="650" /></td></tr></tbody></table></td></tr><tr><td align="center" style="border-collapse: collapse; font-size: 0px; padding: 16px 0px 0px; word-break: break-word;"><div style="color: #95989c; cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 13px; line-height: 21px;">Integration of ULIP with other digital tools</div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="margin: 0px 20px; max-width: 650px;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px 0px 24px; word-break: break-word;"><div class="header-text" style="color: #226622; cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 24px; font-weight: 700; line-height: 32px;">Possible hurdles that must be addressed</div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="margin: 0px 20px; max-width: 650px;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><div class="text-default" style="cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 16px; line-height: 24px;"><div class="revue-p" style="margin: 0px;">Huge costs are needed for the initial infrastructure developments primarily in roads, trucks, rails, warehouse development and technology implementation.</div><div class="revue-p" style="margin: 0px;">Logistics is largely a disorganised market and implementation of uniform systems can be initially challenging.</div><div class="revue-p" style="margin: 0px;">Reduction of tax revenue on various fronts for the government might cause bias in the effective implementation of this policy.</div><div class="revue-p" style="margin: 0px;">As a digital system, system availability, efficient and fast operation, maintaining resilient and reliable backup facilities and cybersecurity are very important for smooth functioning. Any disruption that causes a delay could cause higher losses under the hub system.</div></div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="margin: 0px 20px; max-width: 650px;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px 0px 24px; word-break: break-word;"><div class="header-text" style="color: #226622; cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 24px; font-weight: 700; line-height: 32px;">How will it help?</div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="margin: 0px 20px; max-width: 650px;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr style="background-color: white; font-size: 13px;"><td align="center" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; border-spacing: 0px;"><tbody><tr><td style="border-collapse: collapse; width: 650px;"><img alt="" height="auto" src="https://s3.amazonaws.com/revue/items/images/018/628/404/mail/benefits.png?1666188429" style="border-radius: 0px; border: none; display: block; height: auto; line-height: 0px; outline: none; width: 500px;" title="" width="650" /></td></tr></tbody></table></td></tr><tr style="background-color: white; font-size: 13px;"><td align="center" style="border-collapse: collapse; font-size: 0px; padding: 16px 0px 0px; word-break: break-word;"></td></tr></tbody></table></div></td></tr></tbody></table></div><br />Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-5297910739720462639.post-9639638942227627432022-10-07T00:06:00.000-07:002022-10-07T00:06:05.766-07:00Curiosity@Intelsense<p> </p><div style="background-color: white; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" colspan="2" style="border-collapse: collapse; direction: ltr; padding: 0px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><div class="text-default" style="color: #030a10; cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 16px; line-height: 24px;"><div class="revue-p" style="margin: 0px;"><em>Multidisciplinary learning is one of the best ways to improve our investment acumen. Here is a summary of some of the best learnings of the week. If you like this collection, consider forwarding it to someone who you think will appreciate it.</em></div><div class="revue-p" style="margin: 0px;"><em> </em></div><div class="revue-p" style="margin: 0px;"><em>You can sign up to </em><a href="https://www.getrevue.co/profile/intelsense?utm_campaign=Investing%20Thoughts%20from%20Abhishek%20Basumallick&utm_medium=email&utm_source=Revue%20newsletter" style="color: #3498db;" target="_blank"><em>https://www.getrevue.co/profile/intelsense</em></a><em> to receive all blogs from me directly into your inbox.</em></div><div class="revue-p" style="margin: 0px;"><em> </em></div><div class="revue-p" style="margin: 0px;"><em>To subscribe to any of Intelsense Research services, visit </em><a href="http://www.intelsense.in/?utm_campaign=Investing%20Thoughts%20from%20Abhishek%20Basumallick&utm_medium=email&utm_source=Revue%20newsletter" style="color: #3498db;" target="_blank"><em>www.intelsense.in</em></a><em>. If you wish to know more about our PMS offerings, mail us at equity@intelsense.in</em></div></div></td></tr><tr><td class="introduction-spacer" style="border-collapse: collapse; font-size: 0px; padding: 40px 0px; word-break: break-word;"><p style="border-top: 1px solid rgb(225, 225, 225); font-size: 1px; margin: 0px; padding: 0px; width: 500px;"></p></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="background-color: white; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="center" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; border-spacing: 0px;"><tbody><tr><td style="border-collapse: collapse; width: 650px;"><img alt="" height="auto" src="https://s3.amazonaws.com/revue/items/images/018/413/403/mail/Curiosity_40intelsense.png?1665125808" style="border-radius: 0px; border: none; display: block; height: auto; line-height: 0px; outline: none; width: 500px;" title="" width="650" /></td></tr></tbody></table></td></tr><tr><td align="center" style="border-collapse: collapse; font-size: 0px; padding: 16px 0px 0px; word-break: break-word;"><div style="color: #95989c; cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 13px; line-height: 21px;"></div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="background-color: white; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px 0px 24px; word-break: break-word;"><div class="header-text" style="color: #226622; cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 24px; font-weight: 700; line-height: 32px;">Narrative becomes important in the absence of earnings</div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="background-color: white; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><div class="text-default" style="cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 16px; line-height: 24px;"><div class="revue-p" style="margin: 0px;">In speculative periods when stock prices soar, investors frequently ignore the underlying earnings, balance sheets, etc. of stocks they own. Instead, recent price momentum dictates investors’ buy/sell decisions. Thus, a rising stock price alone is often enough justification to warrant buying shares.</div><div class="revue-p" style="margin: 0px;"> </div><div class="revue-p" style="margin: 0px;">One advantage that these unprofitable companies arguably have is that without existing profits, it’s impossible to compare the practicality of future profit projections.</div><div class="revue-p" style="margin: 0px;"> </div><div class="revue-p" style="margin: 0px;">In Simple Principles of Investment, published in 1919, the author joked: “If there is nothing to compare, there is nothing to criticize.”</div><div class="revue-p" style="margin: 0px;"> </div><div class="revue-p" style="margin: 0px;">Consequently, companies in this camp have more “gray area” to stir up enthusiasm, as it’s harder to disprove the feasibility of their narratives and projections. As a result, without actual profits, the company narrative becomes increasingly important for attracting capital.</div><div class="revue-p" style="margin: 0px;"><a href="https://canvas.osam.com/Commentary/BlogPost?Permalink=why-fundamentals-matter&utm_campaign=Investing%20Thoughts%20from%20Abhishek%20Basumallick&utm_medium=email&utm_source=Revue%20newsletter" style="color: #3498db;" target="_blank">https://canvas.osam.com/Commentary/BlogPost?Permalink=why-fundamentals-matter</a></div></div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="background-color: white; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px 0px 24px; word-break: break-word;"><div class="header-text" style="color: #226622; cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 24px; font-weight: 700; line-height: 32px;">It's Supposed To Be Hard</div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="background-color: white; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><div class="text-default" style="cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 16px; line-height: 24px;"><div class="revue-p" style="margin: 0px;">Every investor knows, or should know, the truth about money management: More than 80% of professional investors underperform their benchmark (more depending on how you calculate it). Those stats are used in an often cynical way to show how the industry is broken, crowded, and ineffective.</div><div class="revue-p" style="margin: 0px;"> </div><div class="revue-p" style="margin: 0px;">But wouldn’t it be weirder if it were different?</div><div class="revue-p" style="margin: 0px;"> </div><div class="revue-p" style="margin: 0px;">Wouldn’t it be strange if every slightly ambitious investor could pick a few stocks and earn returns capable of generating dynastic wealth with other people’s money? Or even most of them? How and why could that world possibly exist? The reason Warren Buffett is interesting is because there’s only one of him.</div><div class="revue-p" style="margin: 0px;"> </div><div class="revue-p" style="margin: 0px;">The thing to keep in mind is that in any endeavor that has the potential to deliver big rewards, the best you can do is put the odds of success in your favor, which means recognizing that if you make 100 attempts at something, 99 of them might be failures but one might be an enormous win.</div><div class="revue-p" style="margin: 0px;"><a href="https://collabfund.com/blog/its-supposed-to-be-hard/?utm_campaign=Investing%20Thoughts%20from%20Abhishek%20Basumallick&utm_medium=email&utm_source=Revue%20newsletter" style="color: #3498db;" target="_blank">https://collabfund.com/blog/its-supposed-to-be-hard/</a></div></div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="background-color: white; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px 0px 24px; word-break: break-word;"><div class="header-text" style="color: #226622; cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 24px; font-weight: 700; line-height: 32px;">Psychological investing</div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="background-color: white; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><div class="text-default" style="cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 16px; line-height: 24px;"><div class="revue-p" style="margin: 0px;">If your horizon stretches ten years or more, then owning a good business is one of the safest places to be. Even better: own a portfolio of such businesses. Thank goodness we have public equity markets, where we can easily buy pieces of some of the best businesses on the planet. </div><div class="revue-p" style="margin: 0px;"> </div><div class="revue-p" style="margin: 0px;">What makes investing hard is that things don’t unfold in an even, or predictable, manner. There are some great runs, there are nasty drawdowns and there are extended periods where you seem to go nowhere. Each presents lots of opportunities for investors to make costly mistakes.</div><div class="revue-p" style="margin: 0px;"> </div><div class="revue-p" style="margin: 0px;">You can lower the risks of making mistakes, too, by severely limiting the kinds of businesses you own in the first place. Investors usually focus on trying to find ideas that will perform, or perhaps where they feel they won’t lose money. But I will suggest another, less appreciated angle: think about the psychology involved in owning the name.</div><div class="revue-p" style="margin: 0px;"> </div><div class="revue-p" style="margin: 0px;">We have to admit part of investing is psychological - maybe the most important part. And we know the market will test us along the way. So, we have to look for businesses we would be comfortable holding even during bad times.</div><div class="revue-p" style="margin: 0px;"><a href="https://www.woodlockhousefamilycapital.com/post/a-safe-place-to-hide?utm_campaign=Investing%20Thoughts%20from%20Abhishek%20Basumallick&utm_medium=email&utm_source=Revue%20newsletter" style="color: #3498db;" target="_blank">https://www.woodlockhousefamilycapital.com/post/a-safe-place-to-hide</a></div></div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="background-color: white; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px 0px 24px; word-break: break-word;"><div class="header-text" style="color: #226622; cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 24px; font-weight: 700; line-height: 32px;">Quote of the Week:</div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="background-color: white; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><div class="text-default" style="cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 16px; line-height: 24px;"><div class="revue-p" style="margin: 0px;">“Life, in part, is like a poker game, wherein you have to learn to quit sometimes when holding a much-loved hand— you must learn to handle mistakes and new facts that change the odds.”</div><div class="revue-p" style="margin: 0px;">~Charlie Munger</div></div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="background-color: white; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px 0px 24px; word-break: break-word;"><div class="header-text" style="color: #226622; cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 24px; font-weight: 700; line-height: 32px;">Audio/Video of the Week: How to Time the Market</div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="background-color: white; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="center" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; border-spacing: 0px;"><tbody><tr><td style="border-collapse: collapse; width: 650px;"><a href="https://youtu.be/zmP_uiNeiZk?list=PLnCqBYEwjX6e56w9qmaqbLHwgnt2IRgal&utm_campaign=Investing%20Thoughts%20from%20Abhishek%20Basumallick&utm_medium=email&utm_source=Revue%20newsletter" style="color: #3498db;" target="_blank"><img alt="🔴 How to Time the Market (w/ Milton Berg)" height="auto" src="https://s3.amazonaws.com/revue/items/images/018/413/465/mail/maxresdefault.jpg?1665125920" style="border-radius: 0px; border: none; display: block; height: auto; line-height: 0px; outline: none; text-decoration-line: none; width: 500px;" title="🔴 How to Time the Market (w/ Milton Berg)" width="600" /></a></td></tr></tbody></table></td></tr><tr><td align="center" style="border-collapse: collapse; font-size: 0px; padding: 16px 0px 0px; word-break: break-word;"><div style="color: #95989c; cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 13px; line-height: 21px;">🔴 How to Time the Market (w/ Milton Berg)</div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="background-color: white; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px 0px 24px; word-break: break-word;"><div class="header-text" style="color: #226622; cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 24px; font-weight: 700; line-height: 32px;">Insights@Intelsense</div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="background-color: white; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><div class="text-default" style="cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 16px; line-height: 24px;"><div class="revue-p" style="margin: 0px;">Quiver smallcase <a href="https://publisher.smallcase.com/smallcase/INSMO_0005?utm_campaign=Investing%20Thoughts%20from%20Abhishek%20Basumallick&utm_medium=email&utm_source=Revue%20newsletter" style="color: #3498db;" target="_blank">https://publisher.smallcase.com/smallcase/INSMO_0005</a> has been performing well since its inception with a CAGR of 25.78%. It has been able to outperform consistently over the entire duration.</div></div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="background-color: white; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="center" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; border-spacing: 0px;"><tbody><tr><td style="border-collapse: collapse; width: 650px;"><img alt="CAGR of 25.78%" height="auto" src="https://s3.amazonaws.com/revue/items/images/018/413/516/mail/Screenshot_2022-10-07_123018.png?1665126104" style="border-radius: 0px; border: none; display: block; height: auto; line-height: 0px; outline: none; width: 500px;" title="CAGR of 25.78%" width="650" /></td></tr></tbody></table></td></tr><tr><td align="center" style="border-collapse: collapse; font-size: 0px; padding: 16px 0px 0px; word-break: break-word;"><div style="color: #95989c; cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 13px; line-height: 21px;">CAGR of 25.78%</div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="background-color: white; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="center" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; border-spacing: 0px;"><tbody><tr><td style="border-collapse: collapse; width: 650px;"><img alt="Consistent Outperformance" height="auto" src="https://s3.amazonaws.com/revue/items/images/018/413/518/mail/Screenshot_2022-10-07_123120.png?1665126110" style="border-radius: 0px; border: none; display: block; height: auto; line-height: 0px; outline: none; width: 500px;" title="Consistent Outperformance" width="650" /></td></tr></tbody></table></td></tr><tr><td align="center" style="border-collapse: collapse; font-size: 0px; padding: 16px 0px 0px; word-break: break-word;"><div style="color: #95989c; cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 13px; line-height: 21px;">Consistent Outperformance</div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="background-color: white; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="left" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="center" colspan="2" style="border-collapse: collapse; font-size: 0px; padding: 40px 0px; word-break: break-word;"></td></tr></tbody></table></div></td></tr></tbody></table></div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-5297910739720462639.post-538616791419914872022-10-06T04:48:00.001-07:002022-10-06T04:49:44.865-07:00Insights@Intelsense: Draft National Electricity Plan, September 2022<div style="background-color: white; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><br /><div style="margin: 0px 20px; max-width: 650px;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" colspan="2" style="border-collapse: collapse; direction: ltr; padding: 0px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><div class="text-default" style="color: #030a10; cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 16px; line-height: 24px;"><div class="revue-p" style="margin: 0px;"><em>To subscribe to any of Intelsense Research services, visit </em><a href="http://www.intelsense.in/?utm_campaign=Investing%20Thoughts%20from%20Abhishek%20Basumallick&utm_medium=email&utm_source=Revue%20newsletter" style="color: #3498db;" target="_blank"><em>www.intelsense.in</em></a><em>.</em></div><div class="revue-p" style="margin: 0px;"><em>If you wish to know more about our PMS offerings, mail us at </em><a href="mailto:equity@intelsense.in?utm_campaign=Investing%20Thoughts%20from%20Abhishek%20Basumallick&utm_medium=email&utm_source=Revue%20newsletter" style="color: #3498db;" target="_blank"><em>equity@intelsense.in</em></a></div></div></td></tr><tr><td class="introduction-spacer" style="border-collapse: collapse; font-size: 0px; padding: 40px 0px; word-break: break-word;"><p style="border-top: 1px solid rgb(225, 225, 225); font-size: 1px; margin: 0px; padding: 0px; width: 500px;"></p></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="margin: 0px 20px; max-width: 650px;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px 0px 24px; word-break: break-word;"><div class="header-text" style="color: #226622; cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 24px; font-weight: 700; line-height: 32px;">Insights@Intelsense</div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="margin: 0px 20px; max-width: 650px;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><div class="text-default" style="cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 16px; line-height: 24px;"><div class="revue-p" style="margin: 0px;">The Draft National Electricity Plan, September 2022 offers great insight into the Power Sector.</div><div class="revue-p" style="margin: 0px;">Here we do a deep dive into some of the critical portions from the standpoint of infrastructural development and opportunities that may open up in this space.</div><div class="revue-p" style="margin: 0px;">The plan envisages achieving a capacity addition of nearly 50% of the already existing installed base.</div></div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="margin: 0px 20px; max-width: 650px;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="center" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; border-spacing: 0px;"><tbody><tr><td style="border-collapse: collapse; width: 650px;"><img alt="" height="auto" src="https://s3.amazonaws.com/revue/items/images/018/398/977/mail/Picture1.png?1665055003" style="border-radius: 0px; border: none; display: block; height: auto; line-height: 0px; outline: none; width: 500px;" title="" width="650" /></td></tr></tbody></table></td></tr><tr><td align="center" style="border-collapse: collapse; font-size: 0px; padding: 16px 0px 0px; word-break: break-word;"><div style="color: #95989c; cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 13px; line-height: 21px;"></div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="margin: 0px 20px; max-width: 650px;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><div class="text-default" style="cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 16px; line-height: 24px;"><div class="revue-p" style="margin: 0px;">The total installed capacity for our country has grown at a rate of ~7.84% CAGR since independence.</div></div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="margin: 0px 20px; max-width: 650px;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="center" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; border-spacing: 0px;"><tbody><tr><td style="border-collapse: collapse; width: 650px;"><img alt="" height="auto" src="https://s3.amazonaws.com/revue/items/images/018/398/980/mail/Picture2.png?1665055027" style="border-radius: 0px; border: none; display: block; height: auto; line-height: 0px; outline: none; width: 500px;" title="" width="650" /></td></tr></tbody></table></td></tr><tr><td align="center" style="border-collapse: collapse; font-size: 0px; padding: 16px 0px 0px; word-break: break-word;"><div style="color: #95989c; cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 13px; line-height: 21px;"></div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="margin: 0px 20px; max-width: 650px;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><div class="text-default" style="cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 16px; line-height: 24px;"><div class="revue-p" style="margin: 0px;">The growth of installed capacity and energy generation has seen some tapering off compare to other historical 5 years periods and is expected to gain momentum from here.</div></div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="margin: 0px 20px; max-width: 650px;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="center" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; border-spacing: 0px;"><tbody><tr><td style="border-collapse: collapse; width: 650px;"><img alt="" height="auto" src="https://s3.amazonaws.com/revue/items/images/018/398/986/mail/Picture3.png?1665055055" style="border-radius: 0px; border: none; display: block; height: auto; line-height: 0px; outline: none; width: 500px;" title="" width="650" /></td></tr></tbody></table></td></tr><tr><td align="center" style="border-collapse: collapse; font-size: 0px; padding: 16px 0px 0px; word-break: break-word;"><div style="color: #95989c; cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 13px; line-height: 21px;"></div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="margin: 0px 20px; max-width: 650px;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><div class="text-default" style="cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 16px; line-height: 24px;"><div class="revue-p" style="margin: 0px;">Major reforms were undertaken in the Distribution Sector along with liquidity infusion during COVID -19.</div></div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="margin: 0px 20px; max-width: 650px;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="center" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; border-spacing: 0px;"><tbody><tr><td style="border-collapse: collapse; width: 650px;"><img alt="" height="auto" src="https://s3.amazonaws.com/revue/items/images/018/398/989/mail/Picture4.png?1665055083" style="border-radius: 0px; border: none; display: block; height: auto; line-height: 0px; outline: none; width: 500px;" title="" width="650" /></td></tr></tbody></table></td></tr><tr><td align="center" style="border-collapse: collapse; font-size: 0px; padding: 16px 0px 0px; word-break: break-word;"><div style="color: #95989c; cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 13px; line-height: 21px;"></div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="margin: 0px 20px; max-width: 650px;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><div class="text-default" style="cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 16px; line-height: 24px;"><div class="revue-p" style="margin: 0px;">The plan forecasts Region wise Energy requirement for the next decade.</div></div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="margin: 0px 20px; max-width: 650px;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="center" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; border-spacing: 0px;"><tbody><tr><td style="border-collapse: collapse; width: 650px;"><img alt="" height="auto" src="https://s3.amazonaws.com/revue/items/images/018/399/001/mail/Picture5.png?1665055112" style="border-radius: 0px; border: none; display: block; height: auto; line-height: 0px; outline: none; width: 500px;" title="" width="650" /></td></tr></tbody></table></td></tr><tr><td align="center" style="border-collapse: collapse; font-size: 0px; padding: 16px 0px 0px; word-break: break-word;"><div style="color: #95989c; cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 13px; line-height: 21px;"></div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="margin: 0px 20px; max-width: 650px;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><div class="text-default" style="cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 16px; line-height: 24px;"><div class="revue-p" style="margin: 0px;">The need for Inter-regional transmission capacity is stressed and also considered in the plan.</div></div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="margin: 0px 20px; max-width: 650px;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="center" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; border-spacing: 0px;"><tbody><tr><td style="border-collapse: collapse; width: 650px;"><img alt="" height="auto" src="https://s3.amazonaws.com/revue/items/images/018/399/019/mail/Picture6.png?1665055139" style="border-radius: 0px; border: none; display: block; height: auto; line-height: 0px; outline: none; width: 500px;" title="" width="650" /></td></tr></tbody></table></td></tr><tr><td align="center" style="border-collapse: collapse; font-size: 0px; padding: 16px 0px 0px; word-break: break-word;"><div style="color: #95989c; cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 13px; line-height: 21px;"></div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="margin: 0px 20px; max-width: 650px;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><div class="text-default" style="cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 16px; line-height: 24px;"><div class="revue-p" style="margin: 0px;">The estimated fund requirement for the capacity addition is a massive 14.35 lakh crore over the next 5 years.</div></div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="margin: 0px 20px; max-width: 650px;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="center" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; border-spacing: 0px;"><tbody><tr><td style="border-collapse: collapse; width: 650px;"><img alt="" height="auto" src="https://s3.amazonaws.com/revue/items/images/018/399/026/mail/Picture7.png?1665055173" style="border-radius: 0px; border: none; display: block; height: auto; line-height: 0px; outline: none; width: 500px;" title="" width="650" /></td></tr></tbody></table></td></tr><tr><td align="center" style="border-collapse: collapse; font-size: 0px; padding: 16px 0px 0px; word-break: break-word;"><div style="color: #95989c; cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 13px; line-height: 21px;"></div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="margin: 0px 20px; max-width: 650px;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><div class="text-default" style="cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 16px; line-height: 24px;"><div class="revue-p" style="margin: 0px;">The fund requirement to complete these projects is expected to provide growth opportunities for the Banking Sector at large.</div></div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="margin: 0px 20px; max-width: 650px;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="center" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; border-spacing: 0px;"><tbody><tr><td style="border-collapse: collapse; width: 650px;"><img alt="" height="auto" src="https://s3.amazonaws.com/revue/items/images/018/399/031/mail/Picture8.png?1665055205" style="border-radius: 0px; border: none; display: block; height: auto; line-height: 0px; outline: none; width: 500px;" title="" width="650" /></td></tr></tbody></table></td></tr><tr><td align="center" style="border-collapse: collapse; font-size: 0px; padding: 16px 0px 0px; word-break: break-word;"><div style="color: #95989c; cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 13px; line-height: 21px;"></div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="margin: 0px 20px; max-width: 650px;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><div class="text-default" style="cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 16px; line-height: 24px;"><div class="revue-p" style="margin: 0px;">The planned capex will open up requirements for the entire supply chain. Boiler, Turbine &Generator (BTG) form a major part of the thermal power plant. This is expected to benefit BHEL the largest player with L&T, Thermax & others.</div></div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="margin: 0px 20px; max-width: 650px;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="center" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; border-spacing: 0px;"><tbody><tr><td style="border-collapse: collapse; width: 650px;"><img alt="" height="auto" src="https://s3.amazonaws.com/revue/items/images/018/399/039/mail/Picture9.png?1665055241" style="border-radius: 0px; border: none; display: block; height: auto; line-height: 0px; outline: none; width: 500px;" title="" width="650" /></td></tr></tbody></table></td></tr><tr><td align="center" style="border-collapse: collapse; font-size: 0px; padding: 16px 0px 0px; word-break: break-word;"><div style="color: #95989c; cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 13px; line-height: 21px;"></div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="margin: 0px 20px; max-width: 650px;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><div class="text-default" style="cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 16px; line-height: 24px;"><div class="revue-p" style="margin: 0px;">Another very important part is emission control equipment like FGD - Flue Gas Desulphurisation and SCR - Selective Catalytic Reduction.</div></div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="margin: 0px 20px; max-width: 650px;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="center" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; border-spacing: 0px;"><tbody><tr><td style="border-collapse: collapse; width: 650px;"><img alt="" height="auto" src="https://s3.amazonaws.com/revue/items/images/018/399/087/mail/Picture10.png?1665055496" style="border-radius: 0px; border: none; display: block; height: auto; line-height: 0px; outline: none; width: 500px;" title="" width="650" /></td></tr></tbody></table></td></tr><tr><td align="center" style="border-collapse: collapse; font-size: 0px; padding: 16px 0px 0px; word-break: break-word;"><div style="color: #95989c; cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 13px; line-height: 21px;"></div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="margin: 0px 20px; max-width: 650px;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><div class="text-default" style="cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 16px; line-height: 24px;"><div class="revue-p" style="margin: 0px;">BHEL is already doing large FGD orders and working for SCR also.</div></div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="margin: 0px 20px; max-width: 650px;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="center" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; border-spacing: 0px;"><tbody><tr><td style="border-collapse: collapse; width: 650px;"><img alt="" height="auto" src="https://s3.amazonaws.com/revue/items/images/018/399/098/mail/Picture11.png?1665055527" style="border-radius: 0px; border: none; display: block; height: auto; line-height: 0px; outline: none; width: 500px;" title="" width="650" /></td></tr></tbody></table></td></tr><tr><td align="center" style="border-collapse: collapse; font-size: 0px; padding: 16px 0px 0px; word-break: break-word;"><div style="color: #95989c; cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 13px; line-height: 21px;"></div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="margin: 0px 20px; max-width: 650px;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><div class="text-default" style="cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 16px; line-height: 24px;"><div class="revue-p" style="margin: 0px;">The construction machinery requirement for a 660 MW set is outlined in the plan.</div></div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="margin: 0px 20px; max-width: 650px;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="center" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; border-spacing: 0px;"><tbody><tr><td style="border-collapse: collapse; width: 650px;"><img alt="" height="auto" src="https://s3.amazonaws.com/revue/items/images/018/399/119/mail/Picture12.png?1665055578" style="border-radius: 0px; border: none; display: block; height: auto; line-height: 0px; outline: none; width: 500px;" title="" width="650" /></td></tr></tbody></table></td></tr><tr><td align="center" style="border-collapse: collapse; font-size: 0px; padding: 16px 0px 0px; word-break: break-word;"><div style="color: #95989c; cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 13px; line-height: 21px;"></div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="margin: 0px 20px; max-width: 650px;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><div class="text-default" style="cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 16px; line-height: 24px;"><div class="revue-p" style="margin: 0px;">The plan mentions need of civil contractors to execute Hydro projects.</div></div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="margin: 0px 20px; max-width: 650px;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="center" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; border-spacing: 0px;"><tbody><tr><td style="border-collapse: collapse; width: 650px;"><img alt="" height="auto" src="https://s3.amazonaws.com/revue/items/images/018/399/241/mail/Picture15.png?1665056081" style="border-radius: 0px; border: none; display: block; height: auto; line-height: 0px; outline: none; width: 500px;" title="" width="650" /></td></tr></tbody></table></td></tr><tr><td align="center" style="border-collapse: collapse; font-size: 0px; padding: 16px 0px 0px; word-break: break-word;"><div style="color: #95989c; cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 13px; line-height: 21px;"></div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="margin: 0px 20px; max-width: 650px;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><div class="text-default" style="cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 16px; line-height: 24px;"><div class="revue-p" style="margin: 0px;">Wind Power plants execution can be achieved but focus on building quality turbines will be essential.</div></div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="margin: 0px 20px; max-width: 650px;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="center" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; border-spacing: 0px;"><tbody><tr><td style="border-collapse: collapse; width: 650px;"><img alt="" height="auto" src="https://s3.amazonaws.com/revue/items/images/018/399/251/mail/Picture16.png?1665056110" style="border-radius: 0px; border: none; display: block; height: auto; line-height: 0px; outline: none; width: 500px;" title="" width="650" /></td></tr></tbody></table></td></tr><tr><td align="center" style="border-collapse: collapse; font-size: 0px; padding: 16px 0px 0px; word-break: break-word;"><div style="color: #95989c; cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 13px; line-height: 21px;"></div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="margin: 0px 20px; max-width: 650px;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><div class="text-default" style="cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 16px; line-height: 24px;"><div class="revue-p" style="margin: 0px;">The plan stresses the need for developing indigenous sources for critical items.</div></div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="margin: 0px 20px; max-width: 650px;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="center" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; border-spacing: 0px;"><tbody><tr><td style="border-collapse: collapse; width: 650px;"><img alt="" height="auto" src="https://s3.amazonaws.com/revue/items/images/018/399/260/mail/Picture17.png?1665056142" style="border-radius: 0px; border: none; display: block; height: auto; line-height: 0px; outline: none; width: 500px;" title="" width="650" /></td></tr></tbody></table></td></tr><tr><td align="center" style="border-collapse: collapse; font-size: 0px; padding: 16px 0px 0px; word-break: break-word;"><div style="color: #95989c; cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 13px; line-height: 21px;"></div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="margin: 0px 20px; max-width: 650px;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><div class="text-default" style="cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 16px; line-height: 24px;"><div class="revue-p" style="margin: 0px;">The key material requirement is expected to provide major demand boost to Core Sector such as Cement & Steel. Major Cement demand coming from Hydro plants and for Steel from Wind projects.</div></div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="margin: 0px 20px; max-width: 650px;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="center" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; border-spacing: 0px;"><tbody><tr><td style="border-collapse: collapse; width: 650px;"><img alt="" height="auto" src="https://s3.amazonaws.com/revue/items/images/018/399/281/mail/Picture18.png?1665056186" style="border-radius: 0px; border: none; display: block; height: auto; line-height: 0px; outline: none; width: 500px;" title="" width="650" /></td></tr></tbody></table></td></tr><tr><td align="center" style="border-collapse: collapse; font-size: 0px; padding: 16px 0px 0px; word-break: break-word;"><div style="color: #95989c; cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 13px; line-height: 21px;"></div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="margin: 0px 20px; max-width: 650px;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><div class="text-default" style="cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 16px; line-height: 24px;"><div class="revue-p" style="margin: 0px;">Castings, Forgings, Tubes, Turbines and Generators requirement for Thermal Power Stations.</div></div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="margin: 0px 20px; max-width: 650px;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="center" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; border-spacing: 0px;"><tbody><tr><td style="border-collapse: collapse; width: 650px;"><img alt="" height="auto" src="https://s3.amazonaws.com/revue/items/images/018/399/290/mail/Picture19.png?1665056217" style="border-radius: 0px; border: none; display: block; height: auto; line-height: 0px; outline: none; width: 500px;" title="" width="650" /></td></tr></tbody></table></td></tr><tr><td align="center" style="border-collapse: collapse; font-size: 0px; padding: 16px 0px 0px; word-break: break-word;"><div style="color: #95989c; cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 13px; line-height: 21px;"></div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="margin: 0px 20px; max-width: 650px;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><div class="text-default" style="cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 16px; line-height: 24px;"><div class="revue-p" style="margin: 0px;">An FGD system alone will require huge amounts of Material for construction.</div></div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="margin: 0px 20px; max-width: 650px;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="center" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; border-spacing: 0px;"><tbody><tr><td style="border-collapse: collapse; width: 650px;"><img alt="" height="auto" src="https://s3.amazonaws.com/revue/items/images/018/399/296/mail/Picture20.png?1665056256" style="border-radius: 0px; border: none; display: block; height: auto; line-height: 0px; outline: none; width: 500px;" title="" width="650" /></td></tr></tbody></table></td></tr><tr><td align="center" style="border-collapse: collapse; font-size: 0px; padding: 16px 0px 0px; word-break: break-word;"><div style="color: #95989c; cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 13px; line-height: 21px;"></div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="margin: 0px 20px; max-width: 650px;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><div class="text-default" style="cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 16px; line-height: 24px;"><div class="revue-p" style="margin: 0px;">Limestone requirement for FGD is also expected to be massive.</div></div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="margin: 0px 20px; max-width: 650px;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="center" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; border-spacing: 0px;"><tbody><tr><td style="border-collapse: collapse; width: 650px;"><img alt="" height="auto" src="https://s3.amazonaws.com/revue/items/images/018/399/306/mail/Picture21.png?1665056326" style="border-radius: 0px; border: none; display: block; height: auto; line-height: 0px; outline: none; width: 500px;" title="" width="650" /></td></tr></tbody></table></td></tr><tr><td align="center" style="border-collapse: collapse; font-size: 0px; padding: 16px 0px 0px; word-break: break-word;"><div style="color: #95989c; cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 13px; line-height: 21px;"></div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="margin: 0px 20px; max-width: 650px;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><div class="text-default" style="cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 16px; line-height: 24px;"><div class="revue-p" style="margin: 0px;">Land Requirement in terms of Acre/MW was estimated.</div></div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="margin: 0px 20px; max-width: 650px;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="center" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; border-spacing: 0px;"><tbody><tr><td style="border-collapse: collapse; width: 650px;"><img alt="" height="auto" src="https://s3.amazonaws.com/revue/items/images/018/399/310/mail/Picture22.png?1665056363" style="border-radius: 0px; border: none; display: block; height: auto; line-height: 0px; outline: none; width: 500px;" title="" width="650" /></td></tr></tbody></table></td></tr><tr><td align="center" style="border-collapse: collapse; font-size: 0px; padding: 16px 0px 0px; word-break: break-word;"><div style="color: #95989c; cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 13px; line-height: 21px;"></div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="margin: 0px 20px; max-width: 650px;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><div class="text-default" style="cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 16px; line-height: 24px;"><div class="revue-p" style="margin: 0px;">Emission norms highlight the importance of FGD</div></div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="margin: 0px 20px; max-width: 650px;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="center" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; border-spacing: 0px;"><tbody><tr><td style="border-collapse: collapse; width: 650px;"><img alt="" height="auto" src="https://s3.amazonaws.com/revue/items/images/018/399/317/mail/Picture23.png?1665056391" style="border-radius: 0px; border: none; display: block; height: auto; line-height: 0px; outline: none; width: 500px;" title="" width="650" /></td></tr></tbody></table></td></tr><tr><td align="center" style="border-collapse: collapse; font-size: 0px; padding: 16px 0px 0px; word-break: break-word;"><div style="color: #95989c; cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 13px; line-height: 21px;"></div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="margin: 0px 20px; max-width: 650px;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><div class="text-default" style="cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 16px; line-height: 24px;"><div class="revue-p" style="margin: 0px;">The investments, if they fructify, could be a significant game-changer in the infrastructure space in India.</div></div></td></tr></tbody></table></div></td></tr></tbody></table></div><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><br /></td></tr></tbody></table></div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-5297910739720462639.post-11957763564535854542022-09-30T08:00:00.002-07:002022-09-30T08:00:44.812-07:00Curiosity@Intelsense<p> </p><div style="background-color: white; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" colspan="2" style="border-collapse: collapse; direction: ltr; padding: 0px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><div class="text-default" style="color: #030a10; cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 16px; line-height: 24px;"><div class="revue-p" style="margin: 0px;"><em>Multidisciplinary learning is one of the best ways to improve our investment acumen. Here is a summary of some of the best learnings of the week. If you like this collection, consider forwarding it to someone who you think will appreciate it.</em></div><div class="revue-p" style="margin: 0px;"><em> </em></div><div class="revue-p" style="margin: 0px;"><em>You can sign up to </em><a href="https://www.getrevue.co/profile/intelsense?utm_campaign=Investing%20Thoughts%20from%20Abhishek%20Basumallick&utm_medium=email&utm_source=Revue%20newsletter" style="color: #3498db;" target="_blank"><em>https://www.getrevue.co/profile/intelsense</em></a><em> to receive all blogs from me directly into your inbox.</em></div><div class="revue-p" style="margin: 0px;"><em> </em></div><div class="revue-p" style="margin: 0px;"><em>To subscribe to any of Intelsense Research services, visit </em><a href="http://www.intelsense.in/?utm_campaign=Investing%20Thoughts%20from%20Abhishek%20Basumallick&utm_medium=email&utm_source=Revue%20newsletter" style="color: #3498db;" target="_blank"><em>www.intelsense.in</em></a><em>. If you wish to know more about our PMS offerings, mail us at equity@intelsense.in</em></div></div></td></tr><tr><td class="introduction-spacer" style="border-collapse: collapse; font-size: 0px; padding: 40px 0px; word-break: break-word;"><p style="border-top: 1px solid rgb(225, 225, 225); font-size: 1px; margin: 0px; padding: 0px; width: 500px;"></p></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="background-color: white; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="center" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; border-spacing: 0px;"><tbody><tr><td style="border-collapse: collapse; width: 650px;"><img alt="" height="auto" src="https://s3.amazonaws.com/revue/items/images/018/284/032/mail/Curiosity_40intelsense.png?1664549129" style="border-radius: 0px; border: none; display: block; height: auto; line-height: 0px; outline: none; width: 500px;" title="" width="650" /></td></tr></tbody></table></td></tr><tr><td align="center" style="border-collapse: collapse; font-size: 0px; padding: 16px 0px 0px; word-break: break-word;"><div style="color: #95989c; cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 13px; line-height: 21px;"></div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="background-color: white; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px 0px 24px; word-break: break-word;"><div class="header-text" style="color: #226622; cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 24px; font-weight: 700; line-height: 32px;">Stoicism and Investing</div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="background-color: white; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><div class="text-default" style="cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 16px; line-height: 24px;"><div class="revue-p" style="margin: 0px;"><strong>Stoicism and Investing</strong></div><div class="revue-p" style="margin: 0px;">In my experience, investing is 9% theory, 1% execution, and 90% managing your emotions. That’s why I’ve been applying the philosophy of Stoicism to my investing strategy—it helps me to manage the most important part: Emotions.</div><div class="revue-p" style="margin: 0px;"> </div><div class="revue-p" style="margin: 0px;">At some point, you must take action. But we tend to keep searching for that special piece of wisdom that makes the difference. So we keep reading more books, listening to more podcasts, and following the different investing sages.</div><div class="revue-p" style="margin: 0px;"> </div><div class="revue-p" style="margin: 0px;">As a result, we never take action, and we become our own worst enemy.</div><div class="revue-p" style="margin: 0px;"> </div><div class="revue-p" style="margin: 0px;">Until you take your own money and put it on the line, you never know what it feels like to invest. I can say that I’ve made nearly all the investing mistakes one can make.</div><div class="revue-p" style="margin: 0px;"> </div><div class="revue-p" style="margin: 0px;">But Stoicism has helped me to become a better investor because it made me more level-headed.</div><div class="revue-p" style="margin: 0px;"> </div><div class="revue-p" style="margin: 0px;">Every time you invest in something, you’re taking a risk with your hard-earned money, which will always remain scary. But no matter what happens, don’t talk yourself out of investing. You can’t afford it.</div><div class="revue-p" style="margin: 0px;"> </div><div class="revue-p" style="margin: 0px;">In the long term, markets still move in one direction: Up. You either take the ride up, or you stay where you are.</div><div class="revue-p" style="margin: 0px;"><a href="https://dariusforoux.com/stoic-path-to-wealth/?utm_campaign=Investing%20Thoughts%20from%20Abhishek%20Basumallick&utm_medium=email&utm_source=Revue%20newsletter" style="color: #3498db;" target="_blank">https://dariusforoux.com/stoic-path-to-wealth/</a></div></div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="background-color: white; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px 0px 24px; word-break: break-word;"><div class="header-text" style="color: #226622; cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 24px; font-weight: 700; line-height: 32px;">The history of memes</div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="background-color: white; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><div class="text-default" style="cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 16px; line-height: 24px;"><div class="revue-p" style="margin: 0px;">Richard Dawkins, the evolutionary biologist, coined the term “meme” in his 1976 book The Selfish Gene, likening discrete bits of human culture that propagate between people to genes. Dawkins shortened the ancient Greek word “mimeme” – with an apology to his classicist colleagues – to meme, to rhyme with “cream”. He suggested that memes were melodies, ideas, catchphrases or bits of information that leap from brain to brain through imitation, expediting their transmission.</div><div class="revue-p" style="margin: 0px;"> </div><div class="revue-p" style="margin: 0px;">He coined the term to highlight just how human culture can replicate itself. And in that sense memes have been around probably since humans have had cultures they have shared. But we can also see the kernels of what makes modern internet memes so successful in ancient forms of popular culture.</div><div class="revue-p" style="margin: 0px;"><a href="https://www.bbc.com/future/article/20220928-the-surprising-power-of-internet-memes?utm_campaign=Investing%20Thoughts%20from%20Abhishek%20Basumallick&utm_medium=email&utm_source=Revue%20newsletter" style="color: #3498db;" target="_blank">https://www.bbc.com/future/article/20220928-the-surprising-power-of-internet-memes</a></div></div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="background-color: white; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px 0px 24px; word-break: break-word;"><div class="header-text" style="color: #226622; cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 24px; font-weight: 700; line-height: 32px;">Incentives are the most powerful force in the world</div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="background-color: white; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><div class="text-default" style="cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 16px; line-height: 24px;"><div class="revue-p" style="margin: 0px;">No matter how much information and context you have, nothing is more persuasive than what you desperately want or need to be true. And as Daniel Kahneman once wrote, “It is easier to recognize other people’s mistakes than our own.” What makes incentives powerful is not just how they influence other people’s decisions, but how blind we can be to how they impact our own.</div><div class="revue-p" style="margin: 0px;"> </div><div class="revue-p" style="margin: 0px;">A big thing here is recognizing that people are not calculators; they are storytellers. There’s too much information and too many blind spots for people to calculate exactly how the world works. Stories are the only realistic solution, simplifying complex problems into a few simple sentences. And the best story always wins – not the best idea or the right idea, but just whatever sounds the best and gets people nodding their head the most. Ben Franklin once wrote, “If you are to persuade, appeal to interest and not to reason.” Incentives fuel stories that justify people’s actions and beliefs, offering comfort even when they’re doing things they know are wrong and believe things they know aren’t true.</div><div class="revue-p" style="margin: 0px;"><a href="https://collabfund.com/blog/incentives/?utm_campaign=Investing%20Thoughts%20from%20Abhishek%20Basumallick&utm_medium=email&utm_source=Revue%20newsletter" style="color: #3498db;" target="_blank">https://collabfund.com/blog/incentives/</a></div></div></td></tr></tbody></table><br /></div><span><a name='more'></a></span></td></tr></tbody></table></div><div style="background-color: white; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px 0px 24px; word-break: break-word;"><div class="header-text" style="color: #226622; cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 24px; font-weight: 700; line-height: 32px;">Quote of the Week:</div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="background-color: white; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><div class="text-default" style="cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 16px; line-height: 24px;"><div class="revue-p" style="margin: 0px;">“In our view, there is no such thing as a value company. Price is the essential determinant in every investment equation. At some price, every company is a buy; at some price, every company is a hold; and at a still higher price, every company is a sell. We do not really recognize the concept of a value company.”</div><div class="revue-p" style="margin: 0px;">~Seth Klarman</div></div></td></tr></tbody></table><br /></div><span><!--more--></span></td></tr></tbody></table></div><div style="background-color: white; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px 0px 24px; word-break: break-word;"><div class="header-text" style="color: #226622; cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 24px; font-weight: 700; line-height: 32px;">Audio/Video of the Week: Practitioner’s Insights: Forensic Accounting</div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="background-color: white; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="center" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; border-spacing: 0px;"><tbody><tr><td style="border-collapse: collapse; width: 650px;"><a href="https://youtu.be/oH4DiDAvrSI?utm_campaign=Investing%20Thoughts%20from%20Abhishek%20Basumallick&utm_medium=email&utm_source=Revue%20newsletter" style="color: #3498db;" target="_blank"><img alt="Practioner’s Insights: Forensic Accounting | Nitin Bhasin & Vinit Powle" height="auto" src="https://s3.amazonaws.com/revue/items/images/018/284/065/mail/maxresdefault.jpg?1664549245" style="border-radius: 0px; border: none; display: block; height: auto; line-height: 0px; outline: none; text-decoration-line: none; width: 500px;" title="Practioner’s Insights: Forensic Accounting | Nitin Bhasin & Vinit Powle" width="600" /></a></td></tr></tbody></table></td></tr><tr><td align="center" style="border-collapse: collapse; font-size: 0px; padding: 16px 0px 0px; word-break: break-word;"><div style="color: #95989c; cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 13px; line-height: 21px;">Practioner’s Insights: Forensic Accounting | Nitin Bhasin & Vinit Powle</div></td></tr></tbody></table></div></td></tr></tbody></table></div><span><!--more--></span><div style="background-color: white; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px 0px 24px; word-break: break-word;"><div class="header-text" style="color: #226622; cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 24px; font-weight: 700; line-height: 32px;">Insights@Intelsense</div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="background-color: white; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="center" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; border-spacing: 0px;"><tbody><tr><td style="border-collapse: collapse; width: 650px;"><img alt="Quiver smallcase performance since launch in June 2021" height="auto" src="https://s3.amazonaws.com/revue/items/images/018/284/200/mail/2022-09-30_20_22_46-Intelsense___Quiver.png?1664549618" style="border-radius: 0px; border: none; display: block; height: auto; line-height: 0px; outline: none; width: 500px;" title="Quiver smallcase performance since launch in June 2021" width="650" /></td></tr></tbody></table></td></tr><tr><td align="center" style="border-collapse: collapse; font-size: 0px; padding: 16px 0px 0px; word-break: break-word;"><div style="color: #95989c; cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 13px; line-height: 21px;">Quiver smallcase performance since launch in June 2021</div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="background-color: white; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100" style="display: inline-block; line-height: 0px; text-align: left; vertical-align: top; width: 500px;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><div style="color: #3b424b; cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 13px; line-height: 22px;"><a href="https://intelsense.smallcase.com/smallcase/INSMO_0005?utm_campaign=Investing%20Thoughts%20from%20Abhishek%20Basumallick&utm_medium=email&utm_source=Revue%20newsletter" style="color: #3498db; text-decoration-line: none;" target="_blank"><img align="right" alt="Quiver by Intelsense" class="link-image" height="140" src="https://s3.amazonaws.com/revue/items/images/018/284/244/thumb/INSMO_0005.png?1664549868" style="border-radius: 0px; border: none; height: auto; line-height: 13px; outline: none; padding-bottom: 36px; padding-left: 30px;" width="140" /></a><div><div class="link-title" style="color: black; font-family: Helvetica, -apple-system, BlinkMacSystemFont, "Segoe UI", sans-serif; font-size: 20px; font-weight: 700; line-height: 28px; padding-bottom: 4px;"><a href="https://intelsense.smallcase.com/smallcase/INSMO_0005?utm_campaign=Investing%20Thoughts%20from%20Abhishek%20Basumallick&utm_medium=email&utm_source=Revue%20newsletter" style="color: black; text-decoration-line: none;" target="_blank">Quiver by Intelsense</a></div><div class="serif small-text link-description" style="color: black; font-size: 16px; line-height: 24px; padding-bottom: 4px;"><div class="revue-p" style="margin: 0px;">A trend-following quant based strategy that helps you remain ahead of the curve.</div><div class="revue-p" style="margin: 0px;">Min Investment: 5 lakhs</div><div class="revue-p" style="margin: 0px;">Fees: 2% per annum (proportionately deducted monthly)</div></div><div class="link-url" style="font-size: 14px; line-height: 24px;"><a href="https://intelsense.smallcase.com/smallcase/INSMO_0005?utm_campaign=Investing%20Thoughts%20from%20Abhishek%20Basumallick&utm_medium=email&utm_source=Revue%20newsletter" style="color: #3498db; text-decoration-line: none;" target="_blank">intelsense.smallcase.com</a></div></div></div></td></tr></tbody></table></div></div></td></tr></tbody></table></div><span><!--more--></span><div style="background-color: white; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="left" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="center" colspan="2" style="border-collapse: collapse; font-size: 0px; padding: 40px 0px; word-break: break-word;"></td></tr></tbody></table></div></td></tr></tbody></table></div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-5297910739720462639.post-21802057967154678322022-09-29T05:43:00.001-07:002022-09-29T05:43:32.021-07:00PROFILE: Bernard Arnault - The LVMH man<p> </p><div style="background-color: white; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" colspan="2" style="border-collapse: collapse; direction: ltr; padding: 0px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><div class="text-default" style="color: #030a10; cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 16px; line-height: 24px;"><div class="revue-p" style="margin: 0px;"><em>I have always been fascinated by businessmen. In this post, I write to highlight a brilliant businessman and corporate investor, who although amongst the world’s richest men, is not very well known or talked about.</em></div></div></td></tr><tr><td class="introduction-spacer" style="border-collapse: collapse; font-size: 0px; padding: 40px 0px; word-break: break-word;"><p style="border-top: 1px solid rgb(225, 225, 225); font-size: 1px; margin: 0px; padding: 0px; width: 500px;"></p></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="background-color: white; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px 0px 24px; word-break: break-word;"><div class="header-text" style="color: #226622; cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 24px; font-weight: 700; line-height: 32px;">“The Terminator”</div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="background-color: white; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><div class="text-default" style="cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 16px; line-height: 24px;"><div class="revue-p" style="margin: 0px;">Bernard Arnault is France’s richest person and is the chairman of the world’s largest maker of luxury goods, Moet Hennessey Louis Vitton. He controls about half of LVMH, which had revenue of 64.2 billion euros ($76 billion) in 2021. </div><div class="revue-p" style="margin: 0px;">In 1984, Arnault, then a young real estate developer, heard that the French government was set to choose someone to take over the Boussac Saint-Frères empire, a textile and retail conglomerate that owned Christian Dior.</div><div class="revue-p" style="margin: 0px;">With the help of Antoine Bernheim, he acquired Financière Agache, a luxury goods company. He became the CEO of Financière Agache and subsequently won the bidding war for Boussac Saint-Frères, buying the group for a ceremonial one franc effectively taking control of Boussac Saint-Frères. </div><div class="revue-p" style="margin: 0px;"> He laid off 9,000 workers in two years, after which he acquired the nickname <em>“The Terminator”</em></div><div class="revue-p" style="margin: 0px;">He then sold nearly all of the company’s assets, keeping only the Christian Dior brand and Le Bon Marché department store</div><div class="revue-p" style="margin: 0px;">By 1987, the company was profitable again and booked earnings of $112 million on a revenue stream of $1.9 billion dollars</div></div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="background-color: white; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px 0px 24px; word-break: break-word;"><div class="header-text" style="color: #226622; cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 24px; font-weight: 700; line-height: 32px;">The billion-dollar idea</div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="background-color: white; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><div class="text-default" style="cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 16px; line-height: 24px;"><div class="revue-p" style="margin: 0px;">In the 1980s, Arnault had the idea to create a group of luxury brands. He worked with Alain Chevalier, CEO of Moët Hennessy, and Henry Racamier, president of Louis Vuitton, to form LVMH in 1987.</div><div class="revue-p" style="margin: 0px;"></div><div class="revue-p" style="margin: 0px;">In July 1988, Arnault provided $1.5 billion to form a holding company with Guinness that held 24% of LVMH’s shares. As a response to the rumours of creating a “blocking minority”, Arnault spent another $600 million to buy a 13.5% more stake in Louis Vuitton.</div><div class="revue-p" style="margin: 0px;"></div><div class="revue-p" style="margin: 0px;">Arnault’s views and mission by then greatly differed from Henry Racamier, Louis Vuitton’s president. In January 1989, he spent another $500 million to gain control of a total of 43.5% of LVMH’s shares and 35% of its voting rights.</div><div class="revue-p" style="margin: 0px;"></div><div class="revue-p" style="margin: 0px;">With the new stake, he was able to reach the “blocking minority” and was successful in dismantling the LVMH Group.</div><div class="revue-p" style="margin: 0px;"></div><div class="revue-p" style="margin: 0px;">He then turned on Racamier, stripped him of his power and ousted him from the board of directors, He subsequently became the unanimous chairmen of the company.</div></div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="background-color: white; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px 0px 24px; word-break: break-word;"><div class="header-text" style="color: #226622; cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 24px; font-weight: 700; line-height: 32px;">Ambition, Strategy, Drive & Growth</div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="background-color: white; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><div class="text-default" style="cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 16px; line-height: 24px;"><div class="revue-p" style="margin: 0px;">Upon Arnault’s takeover, in eleven years, annual sales and profit rose by a factor of 5, and the market value of LVMH increased by a factor of 15. </div><div class="revue-p" style="margin: 0px;"></div><div class="revue-p" style="margin: 0px;">What followed was a string of strategic acquisitions. In July 1988, Arnault acquired Céline. LVMH acquired Berluti and Kenzo in 1993. </div><div class="revue-p" style="margin: 0px;"></div><div class="revue-p" style="margin: 0px;">Arnault bought out the French economic newspaper La Tribune in 1993. Despite the 150 million euros he spent on acquiring the company, he sold it off in order to buy another French economic newspaper Les Échos, for 240 million euros.</div><div class="revue-p" style="margin: 0px;"></div><div class="revue-p" style="margin: 0px;">In 1994, LVMH acquired the perfume firm Guerlain. In 1996, Arnault bought out Loewe, followed by Marc Jacobs and Sephora in 1997.</div><div class="revue-p" style="margin: 0px;"></div><div class="revue-p" style="margin: 0px;">Five more brands were also integrated into the group: Thomas Pink in 1999, Emilio Pucci in 2000 and Fendi, DKNY and La Samaritaine in 2001.</div><div class="revue-p" style="margin: 0px;"></div><div class="revue-p" style="margin: 0px;">In the 1990s, Arnault decided to develop a centre in New York to manage LVMH’s presence in the United States.</div><div class="revue-p" style="margin: 0px;"></div><div class="revue-p" style="margin: 0px;">The result was the LVMH Tower which opened in December 1999.</div></div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="background-color: white; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px 0px 24px; word-break: break-word;"><div class="header-text" style="color: #226622; cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 24px; font-weight: 700; line-height: 32px;">M&A to preside over the biggest rivalries</div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="background-color: white; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><div class="text-default" style="cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 16px; line-height: 24px;"><div class="revue-p" style="margin: 0px;">In 1999, Arnault turned his attention toward the Italian Luxury Brand, GUCCI.</div><div class="revue-p" style="margin: 0px;"></div><div class="revue-p" style="margin: 0px;">He discreetly amassed a 5% stake in the company before being detected.</div><div class="revue-p" style="margin: 0px;"></div><div class="revue-p" style="margin: 0px;">When Gucci responded claiming it to be a hostile takeover, Arnault upped his stake to 34.4 percent while insisting he wanted to be a supportive and unassertive stakeholder.</div><div class="revue-p" style="margin: 0px;"></div><div class="revue-p" style="margin: 0px;">Domenico De Sole, the CEO of the Gucci group, discovered a loophole that allowed him to issue shares with only board approval, and for every share LVMH bought, he created more for his employees, diluting Arnault’s stake.</div><div class="revue-p" style="margin: 0px;"></div><div class="revue-p" style="margin: 0px;">The fight dragged on until settlement in September 2001. After the legal ruling, LVMH sold its shares and walked away with $700 million in profit</div></div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="background-color: white; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px 0px 24px; word-break: break-word;"><div class="header-text" style="color: #226622; cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 24px; font-weight: 700; line-height: 32px;">The luxury behemoth</div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="background-color: white; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><div class="text-default" style="cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 16px; line-height: 24px;"><div class="revue-p" style="margin: 0px;">On 7 March 2011, Arnault announced the acquisition of 50.4% of family-owned shares of the Italian jeweller Bulgari, with the intention to make a tender offer for the rest, which was publicly owned. The transaction was worth $5.2 billion.</div><div class="revue-p" style="margin: 0px;"></div><div class="revue-p" style="margin: 0px;">In 2011, Arnault invested $641 million in establishing LCapitalAsia.</div><div class="revue-p" style="margin: 0px;"></div><div class="revue-p" style="margin: 0px;">In February 2014, Arnault entered into a joint venture with the Italian fashion brand Marco De Vincenzo, taking a minority 45% stake in the firm.</div><div class="revue-p" style="margin: 0px;"></div><div class="revue-p" style="margin: 0px;">By January 2018, Arnault had led the company to record sales of 42.6 billion Euros in 2017, 13% over the previous year, as all divisions turned in strong performances.</div><div class="revue-p" style="margin: 0px;"></div><div class="revue-p" style="margin: 0px;">Under Arnault’s leadership, LVMH has grown to become the largest company by market capitalization in the Eurozone, with a record of 313 billion euros ($382 billion) as of May 2021</div><div class="revue-p" style="margin: 0px;"></div><div class="revue-p" style="margin: 0px;">For a very brief period on 24 May 2021, Arnault temporarily became the richest man in the world, surpassing Jeff Bezos with a net worth of 187.3 billion dollars</div><div class="revue-p" style="margin: 0px;"></div></div></td></tr></tbody></table></div></td></tr></tbody></table></div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-5297910739720462639.post-1333288385889844262022-09-26T02:32:00.001-07:002022-09-26T02:32:10.492-07:00Thoughts on the Market: Interaction with ET Now<p> </p><div style="background-color: white; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="gmail-indented" colspan="2" style="border-collapse: collapse; direction: ltr; font-family: "Google Sans", Roboto, RobotoDraft, Helvetica, Arial, sans-serif; margin: 0px; padding: 0px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="gmail-mj-column-per-100 gmail-outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; margin: 0px; padding: 0px; word-break: break-word;"><div class="gmail-text-default" style="color: #030a10; cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 16px; line-height: 24px;"><div class="gmail-revue-p" style="margin: 0px;"><em>You can sign up at </em><a href="https://www.getrevue.co/profile/intelsense?utm_campaign=Investing%20Thoughts%20from%20Abhishek%20Basumallick&utm_medium=email&utm_source=Revue%20newsletter" style="color: #3498db;" target="_blank"><em>https://www.getrevue.co/profile/intelsense</em></a><em> to receive all blogs from me directly into your inbox.</em></div><div class="gmail-revue-p" style="margin: 0px;"><br /></div><div class="gmail-revue-p" style="margin: 0px;"><em>To subscribe to any of Intelsense Research services, visit </em><a href="http://www.intelsense.in/?utm_campaign=Investing%20Thoughts%20from%20Abhishek%20Basumallick&utm_medium=email&utm_source=Revue%20newsletter" style="color: #3498db;" target="_blank"><em>www.intelsense.in</em></a><em>. If you wish to know more about our PMS offerings, mail us at</em><a href="mailto:equity@intelsense.in?utm_campaign=Investing%20Thoughts%20from%20Abhishek%20Basumallick&utm_medium=email&utm_source=Revue%20newsletter" style="color: #3498db;" target="_blank"><em>equity@intelsense.in</em></a></div></div></td></tr><tr><td class="gmail-introduction-spacer" style="border-collapse: collapse; font-size: 0px; margin: 0px; padding: 40px 0px; word-break: break-word;"><p style="border-top: 1px solid rgb(225, 225, 225); font-size: 1px; margin: 0px; padding: 0px; width: 500px;"></p></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="background-color: white; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="gmail-indented" style="border-collapse: collapse; direction: ltr; font-family: "Google Sans", Roboto, RobotoDraft, Helvetica, Arial, sans-serif; margin: 0px; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="gmail-mj-column-per-100 gmail-outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="center" style="border-collapse: collapse; font-size: 0px; margin: 0px; padding: 0px; word-break: break-word;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; border-spacing: 0px;"><tbody><tr><td style="border-collapse: collapse; margin: 0px; width: 650px;"><a href="https://youtu.be/84VTcbxaKE8?utm_campaign=Investing%20Thoughts%20from%20Abhishek%20Basumallick&utm_medium=email&utm_source=Revue%20newsletter" style="color: #3498db;" target="_blank"><img alt="Thoughts on the Market" height="auto" src="https://s3.amazonaws.com/revue/items/images/018/201/908/mail/hqdefault.jpg?1664184142" style="border-radius: 0px; border: none; display: block; height: auto; line-height: 0px; outline: none; text-decoration-line: none; width: 500px;" title="Thoughts on the Market" width="600" /></a></td></tr></tbody></table></td></tr><tr><td align="center" style="border-collapse: collapse; font-size: 0px; margin: 0px; padding: 16px 0px 0px; word-break: break-word;"><div style="color: #95989c; cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 13px; line-height: 21px;">Thoughts on the Market</div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="background-color: white; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="gmail-indented" style="border-collapse: collapse; direction: ltr; font-family: "Google Sans", Roboto, RobotoDraft, Helvetica, Arial, sans-serif; margin: 0px; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="gmail-mj-column-per-100 gmail-outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; margin: 0px; padding: 0px; word-break: break-word;"><div class="gmail-text-default" style="cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 16px; line-height: 24px;"><div class="gmail-revue-p" style="margin: 0px;">I shared some thoughts on the current markets and the sectors I am finding interesting.</div></div></td></tr></tbody></table></div></td></tr></tbody></table></div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-5297910739720462639.post-29433700915439853972022-09-23T03:48:00.001-07:002022-09-23T03:48:03.387-07:00Curiosity@Intelsense<p> </p><div style="background-color: white; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" colspan="2" style="border-collapse: collapse; direction: ltr; padding: 0px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><div class="text-default" style="color: #030a10; cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 16px; line-height: 24px;"><div class="revue-p" style="margin: 0px;"><i>Multidisciplinary learning is one of the best ways to improve our investment acumen. Here is a summary of some of the best learnings of the week. If you like this collection, consider forwarding it to someone who you think will appreciate it.</i></div><div class="revue-p" style="margin: 0px;"><i><br /></i></div><div class="revue-p" style="margin: 0px;"><i>You can sign up to <a href="https://www.getrevue.co/profile/intelsense?utm_campaign=Investing%20Thoughts%20from%20Abhishek%20Basumallick&utm_medium=email&utm_source=Revue%20newsletter" style="color: #3498db;" target="_blank">https://www.getrevue.co/profile/intelsense</a> to receive all blogs from me directly into your inbox.</i></div><div class="revue-p" style="margin: 0px;"><i><br /></i></div><div class="revue-p" style="margin: 0px;"><i>To subscribe to any of Intelsense Research services, visit <a href="http://www.intelsense.in/?utm_campaign=Investing%20Thoughts%20from%20Abhishek%20Basumallick&utm_medium=email&utm_source=Revue%20newsletter" style="color: #3498db;" target="_blank">www.intelsense.in</a>. If you wish to know more about our PMS offerings, mail us at<a href="mailto:equity@intelsense.in?utm_campaign=Investing%20Thoughts%20from%20Abhishek%20Basumallick&utm_medium=email&utm_source=Revue%20newsletter" style="color: #3498db;" target="_blank">equity@intelsense.in</a></i></div></div></td></tr><tr><td class="introduction-spacer" style="border-collapse: collapse; font-size: 0px; padding: 40px 0px; word-break: break-word;"><p style="border-top: 1px solid rgb(225, 225, 225); font-size: 1px; margin: 0px; padding: 0px; width: 500px;"></p></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="background-color: white; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="center" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; border-spacing: 0px;"><tbody><tr><td style="border-collapse: collapse; width: 650px;"><img alt="" height="auto" src="https://s3.amazonaws.com/revue/items/images/018/150/015/mail/Curiosity_40intelsense.png?1663928980" style="border-radius: 0px; border: none; display: block; height: auto; line-height: 0px; outline: none; width: 500px;" title="" width="650" /></td></tr></tbody></table></td></tr><tr><td align="center" style="border-collapse: collapse; font-size: 0px; padding: 16px 0px 0px; word-break: break-word;"><div style="color: #95989c; cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 13px; line-height: 21px;"></div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="background-color: white; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px 0px 24px; word-break: break-word;"><div class="header-text" style="color: #226622; cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 24px; font-weight: 700; line-height: 32px;">Blood tests for detecting cancer</div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="background-color: white; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><div class="text-default" style="cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 16px; line-height: 24px;"><div class="revue-p" style="margin: 0px;">Doctors have told health services to prepare for a new era of cancer screening after a study found a simple blood test could spot multiple cancer types in patients before they develop clear symptoms.</div><div class="revue-p" style="margin: 0px;"> </div><div class="revue-p" style="margin: 0px;">The Pathfinder study offered the blood test to more than 6,600 adults aged 50 and over, and detected dozens of new cases of disease. Many cancers were at an early stage and nearly three-quarters were forms not routinely screened for.</div><div class="revue-p" style="margin: 0px;"> </div><div class="revue-p" style="margin: 0px;">Beyond spotting the presence of disease, the test predicts where the cancer is, allowing doctors to fast-track the follow-up work needed to locate and confirm a cancer. “The signal of origin was very helpful in directing the type of work-up,” said Schrag. “When the blood test was positive, it typically took under three months to get the work-ups completed.”</div><div class="revue-p" style="margin: 0px;"><a href="https://www.theguardian.com/science/2022/sep/11/galleri-blood-test-multiple-cancers-before-clear-symptoms-study?utm_campaign=Investing%20Thoughts%20from%20Abhishek%20Basumallick&utm_medium=email&utm_source=Revue%20newsletter" style="color: #3498db;" target="_blank">https://www.theguardian.com/science/2022/sep/11/galleri-blood-test-multiple-cancers-before-clear-symptoms-study</a></div></div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="background-color: white; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px 0px 24px; word-break: break-word;"><div class="header-text" style="color: #226622; cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 24px; font-weight: 700; line-height: 32px;">Humans never change. The stock market never changes.</div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="background-color: white; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><div class="text-default" style="cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 16px; line-height: 24px;"><div class="revue-p" style="margin: 0px;">I don’t mean that in a dismissive way as in, “Oh, people are so bad. That will never change. We’re doomed.” When I talk about human behavior, I talk about it in a non-judgmental way. I try to understand what we usually do, and not necessarily whether it’s good or bad.</div><div class="revue-p" style="margin: 0px;"> </div><div class="revue-p" style="margin: 0px;">To be a good investor, we should not only focus on learning the fundamentals or technicals of investing, we should also learn about the behavior of humans. Not just in the stock market but in life.</div><div class="revue-p" style="margin: 0px;"> </div><div class="revue-p" style="margin: 0px;">When you let go of your expectations to get rich in the stock market, you can focus on the beauty of the market. It’s truly one of the most fascinating inventions of the world.</div><div class="revue-p" style="margin: 0px;"> </div><div class="revue-p" style="margin: 0px;">Where else can you go to learn about money, businesses, psychology, history, and most importantly: About yourself. The stock market is a ruthless system that punishes your mistakes with a vengeance. But it also rewards you when you do the right thing.</div><div class="revue-p" style="margin: 0px;"> </div><div class="revue-p" style="margin: 0px;">That’s what makes it so beautiful; because it’s honest.</div><div class="revue-p" style="margin: 0px;"><a href="https://dariusforoux.com/investor-behavior/?utm_campaign=Investing%20Thoughts%20from%20Abhishek%20Basumallick&utm_medium=email&utm_source=Revue%20newsletter" style="color: #3498db;" target="_blank">https://dariusforoux.com/investor-behavior/</a></div></div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="background-color: white; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px 0px 24px; word-break: break-word;"><div class="header-text" style="color: #226622; cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 24px; font-weight: 700; line-height: 32px;">Determination is fueled by ambition</div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="background-color: white; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><div class="text-default" style="cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 16px; line-height: 24px;"><div class="revue-p" style="margin: 0px;">Most people don’t know how ambitious to be, especially when they’re young. They don’t know what’s hard, or what they’re capable of. And this problem is exacerbated by having few peers. Ambitious people are rare, so if everyone is mixed together randomly, as they tend to be early in people’s lives, then the ambitious ones won’t have many ambitious peers. When you take people like this and put them together with other ambitious people, they bloom like dying plants given water. Probably most ambitious people are starved for the sort of encouragement they’d get from ambitious peers, whatever their age.</div><div class="revue-p" style="margin: 0px;"> </div><div class="revue-p" style="margin: 0px;">Achievements also tend to increase your ambition. With each step you gain confidence to stretch further next time.</div><div class="revue-p" style="margin: 0px;"> </div><div class="revue-p" style="margin: 0px;">So here in sum is how determination seems to work: it consists of wilfulness balanced with discipline, aimed by ambition. And fortunately at least two of these three qualities can be cultivated. You may be able to increase your strength of will somewhat; you can definitely learn self-discipline; and almost everyone is practically malnourished when it comes to ambition.</div><div class="revue-p" style="margin: 0px;"><a href="http://www.paulgraham.com/determination.html?utm_campaign=Investing%20Thoughts%20from%20Abhishek%20Basumallick&utm_medium=email&utm_source=Revue%20newsletter" style="color: #3498db;" target="_blank">http://www.paulgraham.com/determination.html</a></div></div></td></tr></tbody></table><br /><br /></div><span><a name='more'></a></span></td></tr></tbody></table></div><div style="background-color: white; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px 0px 24px; word-break: break-word;"><div class="header-text" style="color: #226622; cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 24px; font-weight: 700; line-height: 32px;">Thought of the Week</div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="background-color: white; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><div class="text-default" style="cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 16px; line-height: 24px;"><div class="revue-p" style="margin: 0px;">“I would say my concept of value has changed to a more relative sense of valuation, based on the expected growth rate applied against the price of the stock. Some people call that GARP (growth at a reasonable price), I’d call it value. I think that’s just semantics.”</div><div class="revue-p" style="margin: 0px;">~ Julian Robertson</div></div></td></tr></tbody></table><br /><br /></div><span><!--more--></span></td></tr></tbody></table></div><div style="background-color: white; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px 0px 24px; word-break: break-word;"><div class="header-text" style="color: #226622; cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 24px; font-weight: 700; line-height: 32px;">Audio/Video of the Week</div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="background-color: white; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><div class="text-default" style="cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 16px; line-height: 24px;"><div class="revue-p" style="margin: 0px;"><a href="https://youtu.be/V_YBFVEC7Gg?utm_campaign=Investing%20Thoughts%20from%20Abhishek%20Basumallick&utm_medium=email&utm_source=Revue%20newsletter" style="color: #3498db;" target="_blank">The history of our world in 18 minutes - David Christian</a></div></div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="background-color: white; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="center" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; border-spacing: 0px;"><tbody><tr><td style="border-collapse: collapse; width: 650px;"><a href="https://youtu.be/V_YBFVEC7Gg?utm_campaign=Investing%20Thoughts%20from%20Abhishek%20Basumallick&utm_medium=email&utm_source=Revue%20newsletter" style="color: #3498db;" target="_blank"><img alt="The history of our world in 18 minutes - David Christian" height="auto" src="https://s3.amazonaws.com/revue/items/images/018/150/004/mail/maxresdefault.jpg?1663928896" style="border-radius: 0px; border: none; display: block; height: auto; line-height: 0px; outline: none; text-decoration-line: none; width: 500px;" title="The history of our world in 18 minutes - David Christian" width="600" /></a></td></tr></tbody></table></td></tr><tr><td align="center" style="border-collapse: collapse; font-size: 0px; padding: 16px 0px 0px; word-break: break-word;"><div style="color: #95989c; cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 13px; line-height: 21px;">The history of our world in 18 minutes - David Christian</div><span></span><div style="color: #95989c; cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 13px; line-height: 21px;"><br /></div></td></tr></tbody></table><br /></div><span><!--more--></span></td></tr></tbody></table></div><div style="background-color: white; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px 0px 24px; word-break: break-word;"><div class="header-text" style="color: #226622; cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 24px; font-weight: 700; line-height: 32px;">Insights@Intelsense</div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="background-color: white; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><div class="text-default" style="cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 16px; line-height: 24px;"><div class="revue-p" style="margin: 0px;">The two fund offerings of the SRM PMS. To invest with us, or to know more, email us at <a href="mailto:equity@intelsense.in?utm_campaign=Investing%20Thoughts%20from%20Abhishek%20Basumallick&utm_medium=email&utm_source=Revue%20newsletter" style="color: #3498db;" target="_blank">equity@intelsense.in</a></div></div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="background-color: white; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="center" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; border-spacing: 0px;"><tbody><tr><td style="border-collapse: collapse; width: 650px;"><img alt="The two fund offerings of the SRM PMS" height="auto" src="https://s3.amazonaws.com/revue/items/images/018/150/208/mail/Screenshot_2022-09-23_161027.png?1663929676" style="border-radius: 0px; border: none; display: block; height: auto; line-height: 0px; outline: none; width: 500px;" title="The two fund offerings of the SRM PMS" width="650" /></td></tr></tbody></table></td></tr><tr><td align="center" style="border-collapse: collapse; font-size: 0px; padding: 16px 0px 0px; word-break: break-word;"><div style="color: #95989c; cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 13px; line-height: 21px;">The two fund offerings of the SRM PMS</div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="background-color: white; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="left" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="center" colspan="2" style="border-collapse: collapse; font-size: 0px; padding: 40px 0px; word-break: break-word;"></td></tr></tbody></table></div></td></tr></tbody></table></div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-5297910739720462639.post-15020840421761254052022-09-20T23:54:00.003-07:002022-09-20T23:54:47.980-07:00Monthly Q&A - August 2022<p> </p><div style="background-color: white; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" colspan="2" style="border-collapse: collapse; direction: ltr; padding: 0px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><div class="text-default" style="color: #030a10; cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 16px; line-height: 24px;"><div class="revue-p" style="margin: 0px;">I do a monthly Q&A on topics related to investing posted by our subscribers. This month I cover interesting topics like investment checklists and using stop loss in investing.</div></div></td></tr><tr><td class="introduction-spacer" style="border-collapse: collapse; font-size: 0px; padding: 40px 0px; word-break: break-word;"><p style="border-top: 1px solid rgb(225, 225, 225); font-size: 1px; margin: 0px; padding: 0px; width: 500px;"></p></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="background-color: white; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="center" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; border-spacing: 0px;"><tbody><tr><td style="border-collapse: collapse; width: 650px;"><a href="https://youtu.be/CrIfJLJfOtg?utm_campaign=Investing%20Thoughts%20from%20Abhishek%20Basumallick&utm_medium=email&utm_source=Revue%20newsletter" style="color: #3498db;" target="_blank"><img alt="Monthly Q&A - August 2022" height="auto" src="https://s3.amazonaws.com/revue/items/images/018/100/706/mail/maxresdefault.jpg?1663743124" style="border-radius: 0px; border: none; display: block; height: auto; line-height: 0px; outline: none; text-decoration-line: none; width: 500px;" title="Monthly Q&A - August 2022" width="600" /></a></td></tr></tbody></table></td></tr><tr><td align="center" style="border-collapse: collapse; font-size: 0px; padding: 16px 0px 0px; word-break: break-word;"><div style="color: #95989c; cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 13px; line-height: 21px;">Monthly Q&A - August 2022</div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="background-color: white; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px 0px 24px; word-break: break-word;"><div class="header-text" style="color: #226622; cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 24px; font-weight: 700; line-height: 32px;">Notes:</div></td></tr></tbody></table></div></td></tr></tbody></table></div><div style="background-color: white; margin: 0px 20px; max-width: 650px; text-align: -webkit-center;"><table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; font-size: 0px; width: 560px;"><tbody><tr><td class="indented" style="border-collapse: collapse; direction: ltr; padding: 0px 30px 30px; text-align: center; vertical-align: top;"><div aria-labelledby="mj-column-per-100" class="mj-column-per-100 outlook-group-fix" style="direction: ltr; display: inline-block; font-size: 13px; text-align: left; vertical-align: top; width: 500px;"><table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse: collapse; width: 100%px;"><tbody><tr><td align="left" style="border-collapse: collapse; font-size: 0px; padding: 0px; word-break: break-word;"><div class="text-default" style="cursor: auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Helvetica, sans-serif; font-size: 16px; line-height: 24px;"><div class="revue-p" style="margin: 0px;">A detailed post on using stop losses while investing - <a href="http://blog.intelsense.in/2020/04/using-stop-loss-in-investing.html?utm_campaign=Investing%20Thoughts%20from%20Abhishek%20Basumallick&utm_medium=email&utm_source=Revue%20newsletter" style="color: #3498db;" target="_blank">http://blog.intelsense.in/2020/04/using-stop-loss-in-investing.html</a></div><div class="revue-p" style="margin: 0px;"></div><div class="revue-p" style="margin: 0px;"><strong>Booklist on Intelsense Blog:</strong> <a href="http://blog.intelsense.in/p/blog-page.html?utm_campaign=Investing%20Thoughts%20from%20Abhishek%20Basumallick&utm_medium=email&utm_source=Revue%20newsletter" style="color: #3498db;" target="_blank">http://blog.intelsense.in/p/blog-page.html</a></div><div class="revue-p" style="margin: 0px;"></div><div class="revue-p" style="margin: 0px;">To explore our <strong>subscription offerings</strong>, please visit <a href="http://www.intelsense.in/?utm_campaign=Investing%20Thoughts%20from%20Abhishek%20Basumallick&utm_medium=email&utm_source=Revue%20newsletter" style="color: #3498db;" target="_blank">www.intelsense.in</a></div><div class="revue-p" style="margin: 0px;"> </div><div class="revue-p" style="margin: 0px;"><strong>To enquire about our PMS, please drop us an email</strong> at <a href="mailto:equity@intelsense.in?utm_campaign=Investing%20Thoughts%20from%20Abhishek%20Basumallick&utm_medium=email&utm_source=Revue%20newsletter" style="color: #3498db;" target="_blank">equity@intelsense.in</a></div></div></td></tr></tbody></table></div></td></tr></tbody></table></div>Unknownnoreply@blogger.com0