Maanvardhan Baid

Bullish on Indian Equities since 2007.

Disc:-No Recommendations, just insights.

[Maanvardhan Baid @ia_laurel]

Reminiscent of Reliance Power ! Let’s see if history rhymes.

[Devina Mehra @devinamehra]

The SpaceX IPO is not about the valuation -
it is about having near zero corporate governance and shareholder rights!

Essentially giving your money and handing over the keys to Elon Musk to do as he pleases with it - whether on his own compensation, dilutive shareholding or merging with his private companies.

There is practically NOTHING outside shareholders can do!

No independent directors.
No independent audit committee.

Good luck with this!

Just a reminder: Besides his volatile personality, Musk has not exactly covered himself in glory on the execution front.

Tesla, from having a huge head start, is now struggling on the market share front where the five Chinese makers have zoomed.

My bonus column in Mint today

@livemint
@firstglobalsec
@fghumsmallcase

[Maanvardhan Baid @ia_laurel]

Ab mat bolna ki riding an Ola is expensive .. your ride was funded by the Vanguards !

https://t.co/S743qT3FvI

[Maanvardhan Baid @ia_laurel]

An article came in @the_hindu stating that Air India was sold for a song & many believe this line of thought .. https://t.co/4O7tC7R6vl

5 years on & the losses continue to mount exceeding 22000 crores in FY26 & a group like Tata is about to delay bonuses https://t.co/jh7ytT0qYL

[Maanvardhan Baid @ia_laurel]

A humbling lesson for bureaucracy & courts that meddling with critical services can lead to mayhem !

Indigo cancelling all flights to & from Delhi made some influential people feel the squeeze this the rapid fire reversal.

Demon moment in Indian aviation is hopefully gone.

[Maanvardhan Baid @ia_laurel]

Spreading light, love, and smiles this Diwali

We're celebrating the true spirit of Diwali by contributing towards the joy of underprivileged children. Let's #ExchangeHappiness together with @NSEIndia.

#DiwaliJoy #NSEIndia #FestivalOfLights #SpreadSmiles #CelebrateWithPurpose

[Maanvardhan Baid @ia_laurel]

https://t.co/jk5r6kPBos.. hefty price for shorting gold by govt, FYI- RBI buying was a different trade

Lessons -

1) Shorting is super risky & relying on historical patterns is not enough
2) It comes with a cost, in this case 2.5% interest
3) Long duration shorts is blasphemous

[Maanvardhan Baid @ia_laurel]

Snacky Jain for dogs is like Jackie Chan for the stock .. up 5% .. once again I am speechless about these modern day miracles !

[Maanvardhan Baid @ia_laurel]

Silver is in Happy Diwali mode ! Domestic silver is at a 12% premium due to physical scarcity. Classic economic theory getting pounded by Indian behavioural economics as token purchases continue & ‘family silver’ will come for sale only during crisis not for arbitrage !

[Maanvardhan Baid @ia_laurel]

This company is debt free rather generating cash & is sitting on ~2000 crores of mutual funds/cash/bank balances which is 20% of market cap. Investments in subs is ignored. A prized asset & it seems the promoter will use every crooked trick to get his 'swaad' from this 'samwad'.

[Maanvardhan Baid @ia_laurel]

#Zee has compounded wealth at 2.5% CAGR for the last 20 years & the promoter stake is negligible yet they are in control. This desperate 'Samwad' is another attempt at shareholder's 'paise barbaad'.

[Maanvardhan Baid @ia_laurel]

With such a nominal stake the promoter has ensured that the stock price collapses & they are able to use the siphoned funds to raise thr stake at some point. Thankfully a recent attempt was voted out but if not ousted then it is a matter of time when some preferential route works

[Maanvardhan Baid @ia_laurel]

AI’s one liner to the consulting profession - ‘ab tera kya hoga Kalia’

[Maanvardhan Baid @ia_laurel]

@cii4nr @CIIEvents Mr. Raaja Kanwar of Apollo Tyres group & his group company Apollo Energy is a defaulter. It is a shame he is being allowed to hold a Chair by CII. @apollotyres

[Maanvardhan Baid @ia_laurel]

https://t.co/gFqCPjcjS5

.. twitter camaraderie is reminiscent of Mithun da’s ‘gutur gutur’ song .. both smell of over acting & depict vulgarity in an unsubtle way

[Narendra Modi @narendramodi]

Thank you, my friend, President Trump, for your phone call and warm greetings on my 75th birthday. Like you, I am also fully committed to taking the India-US Comprehensive and Global Partnership to new heights. We support your initiatives towards a peaceful resolution of the Ukraine conflict.

@POTUS

@realDonaldTrump

[Maanvardhan Baid @ia_laurel]

Market Senti-meter musings:-

In the Trump tweet era of investing we finally saw Modi tweeting & everyone turned euphoric. Ek muhaavra yaad aa gaya aaj ke maahaul parr.

‘Doobte ko tweet ka sahara hai’

Thank you for your attention😜

#TrumpTariff #modi

[Maanvardhan Baid @ia_laurel]

#Shyammetalics which has a market cap of 25k cr & zero debt has enabled itself via a special resolution to raise ~16k cr via various instruments .. looks like they are in the mood to shop :)

[Maanvardhan Baid @ia_laurel]

@HITESH32193749 @grok Economic Times

[Maanvardhan Baid @ia_laurel]

A hyped fundraise but have serious doubts on the promoter & its obvious how severe the cash burn is ! I guess the end for Spicejet is near & I see Akasa going down this route as well in a year !

At best aviation will be a duopoly cause Tata's capacity to suffer is infinite !

[Maanvardhan Baid @ia_laurel]

#Indigo is so good it corners 120% of the sectors profit pool given that everyone else is losing money hand over fist !

[Maanvardhan Baid @ia_laurel]

@sanjeevsanyal Kudos to you for motivating an Indian company to take the 'road less travelled' !