10/10
This is from Finology DeepScan #10.
This week: Cummins India, the engine behind India's power backbone, from data centres to defence.
Read the full analysis here:
Cummins India supplies the diesel engines backing up India's data-centre boom. But that's only one part of a much bigger business.
Here's how it all fits together🧵
9/10
Three things worth watching closely.
• Competition: at the 2,500 kVA-plus end used by data centres, Cummins competes with global players like Caterpillar and Perkins, and its largest engine, the QSK95, is currently imported.
• Exports remain volatile, particularly given
A mutual fund distributor's real value is often tested when markets fall.
In a rising market, staying invested is easy. The difficult part comes when markets fall sharply and investors start wondering whether they should stop their SIPs or redeem.
This is where a good
96% brand awareness. A market expected to grow at 10%. Volume growth of just 3.9%.
Something does not fully add up.
Page Industries, the company behind Jockey in India, has one of the strongest brands in Indian apparel. The innerwear market itself is expected to grow at around
360 ONE serves over 8,500 wealthy families.
But the real story is how a single client relationship can generate four different revenue streams.
Here is the flywheel behind India's leading wealth manager🧵
7/8
Three things worth watching closely.
•Relationship manager dependence is real. In FY26, departure of a few senior teams led to estimated outflows of ₹3,500 to 4,000 crore. When an RM leaves, clients sometimes follow.
•The cost-to-income ratio moved to 50% in FY26 from