Rajesh Bhat

Equities. Books. Dreams. NIT-K. Want to trek down Grand Canyon one day. Views personal. Not recommendations.

[Rajesh Bhat @aarbhat]

@jcrajan00 Another important question is how stable the government policy going to be. Multi year capex commitments will need a stable policy.

[Rajesh Bhat @aarbhat]

@harshmadhusudan If this is the case, shouldn’t INR have appreciated over the last 10 years, as we have been closing gap albeit slowly with American income?

[Rajesh Bhat @aarbhat]

@compoundingaiin @NDTVProfitIndia I agree it is unfair to ROEs of an established player vs. new one. I checked the transcript again. Vishal says long term ROE for WM would be 15-18%. Isn’t that low for an asset light business? Anand Rathi is 40%+. What am I missing?

[Rajesh Bhat @aarbhat]

@SamarthNagpal26 Rebalance hote hote looks like lost the balance

[Rajesh Bhat @aarbhat]

@SamarthNagpal26 I still hold as i find it difficult to move in and out. But i wish the management acted a little less like they are trying to sell on their calls. Sitting in Feb can’t believe they weren’t aware of the challenges with the land. A frank disclosure with a planB would have helped.

[Rajesh Bhat @aarbhat]

@compoundingaiin @NDTVProfitIndia In the con call yesterday, when someone pointedly asked the target ROE for wealth management, management said mid teens. When standalone wealth managers like Anand Rathi deliver 50%+ ROE, why is JM settling for 15%? Strange.

[Rajesh Bhat @aarbhat]

@compoundingaiin @NDTVProfitIndia IPO pipeline is very strong at Rs. 1.4 lakh Cr. However in the con call Vishal said he expects growth in this IB in H2, which means next two quarters are washout. Markets seem to have priced this slowdown well.

[Rajesh Bhat @aarbhat]

@SamarthNagpal26 Market seems really upset with the promoter for repeatedly missed target for acquiring the land. The other reason could be concerns about raw material inflation eating up margins. Let us see how this plays out. Disc - invested.

[Rajesh Bhat @aarbhat]

@SamarthNagpal26 If they are able to deliver 28-30% as guided, it will still be excellent growth. In Q3 call land seemed like done deal. I guess that is what the market did not like. I really like how the promoter has figured out a plan B.

[Rajesh Bhat @aarbhat]

@IronyMeter What about a company starting with I?

[Rajesh Bhat @aarbhat]

@compoundingaiin Delivery on wealth and asset management would change my view. They are already leaders in IB. Home loans is chugging along nicely. Seem to have implemented lessons learnt in private credit.

[Rajesh Bhat @aarbhat]

@faltooinvestor Announcement came today. HBL gor 1700 cr.

[Rajesh Bhat @aarbhat]

@compoundingaiin Good analysis and summary of points to closely watch.

[Rajesh Bhat @aarbhat]

@MithunSarkari EPC inherently is not a superior business with extended working capital. Management promised 50% back to back growth in the past. Right now it is external challenges rather than company issues, but given slow down, derating seems to be on cards.

[Rajesh Bhat @aarbhat]

@MithunSarkari They talked talked about competitive intensity in DC space in the call. Lowered revenue guidance from DC in FY27. EBITDA profile also lowered. Not sure if they will win big in DC, but DC should not be a reason to invest. What they own in DC is commodity.

[Rajesh Bhat @aarbhat]

@cbseindia29 @EduMinOfIndia @AkashvaniAIR @airnewsalerts @DDNewslive @dpradhanbjp @sanjayjavin @PTI_News @PIB_India @PIB_Edu Site is not working @PMOIndia @dpradhanbjp

[Rajesh Bhat @aarbhat]

@RMantri @swarajk_ Sir, we tax payers pay the difference when government absorbs loss. So why this circus to show there is no impact?

[Rajesh Bhat @aarbhat]

@DDNewslive Payment is not working. This is fake news.