Back in 2021, when India’s new-age tech companies were rushing to go public, we wrote to you about the “FAD–FOMO–FADE” cycle.

We explore the unexpected U.S. tariffs and GST cuts, and how to interpret them. While the U.S. tariffs will selectively impact specific sectors, the GST overhaul will deliver broad-based benefits across the economy, likely providing Indian consumers with an annualized gain of INR 1.8 tn.

Formation of yet another FAD–FOMO cycle - "the next big unlisted stock" or "the next preferential allotment to participate in."

Discussions around heavy selling by promoters or insiders have gained prominence in media and investment circles.

“A great business at a fair price is superior to a fair business at a great price.” - Charlie Munger   Valuation is one of those topics...

“Someone is sitting in the shade today because someone planted a tree long ago.” Let us plant our trees with care and trust that, in time, they will bear fruit.

The world economy is facing an unprecedented time, leading to different kinds of risks looming in the minds of investors

Market view and our thoughts on one more big achievement of India – Maha Kumbh.

History demonstrates investors who buy stocks that are out of favor & avoid stocks that are in favor enjoy superior results over long term.

2025 – Year of keeping low expectations and staying disciplined

How at times common narratives get formed in the market influencing investors and leading to erroneous investment decisions.

Current market volatility stems mainly from temporary reasons, creating an opportunity for long-term investors.

Markets, a collection of human emotions, also create and act based on stories and narratives.

As India is embarking on the journey, it will have three pronged changes in the consumption - Economic, Social & Digital

India is focusing on building out large-scale infrastructure throughout the country at the rapid pace with huge sense of urgence

India will move from developing to developed – “Services” will be an important sector that will bridge this gap. We see below important tren

The largest festival of democracy on this planet has just concluded with the equity markets seeing a wild swing during the entire week.

Mega trends are generally born from the congruence of several factors acting in a common direction, resulting into a nuclear chain like reac

Greetings from Team Carnelian!   In our previous letter, we highlighted the major tectonic shifts  which are underway, making us believe...

Greetings from Team Carnelian! It is said when you zoom out and look at something over a longer time horizon, things look much different...