Tejas Hegde

On the path of learning 🎯
| Capital markets | Music | Sports aficionado - in that order :-)

[Intrinsic Compounding @soicfinance]

India modules and component suppliers to the Apple Ecosystem

According to several media reports, there are now close to 40 in India, up from just 8 in 2018.

Source - Avendus Spark

[Tejas Hegde @tejastrh92]

@rhoeshan Superb Roshan bhai ✅🔥

[Normal Guy @Normal_2610]

TSMC alone now carries 14.2% weight in the MSCI EM index, more than all of India at 11.94%, Seven of the top 10 constituents are chip or AI companies.

No Indian firm has been in that top 10 for the first time in 26 years. This tells you the index has become a semiconductor ETF with emerging market wrapping

India doubled its GDP from $2.1 trillion to $4.3 trillion in the same decade the index says it underperformed. Measuring stick broke, not the economy

Prakash calls India the biggest loser of the AI boom because of white collar service exports - Fair concern.

But $700 billion in US hyperscaler capex this year sits in 5 companies, 2/3rd of S&P 500 earnings growth comes from 68 direct AI plays, each dollar of revenue making 32 cents pre tax profit. That is not a broad economy thriving.

That is a narrow trade running very hot. India at 7.6% growth on a $4 trillion base deserves a different yardstick

The most honest line in this column is that nobody can go against the AI trade because it is career risk. Fund managers are not making an economic judgment about India. They are making a self preservation decision.

SpaceX is listing at $1.75 trillion. Anthropic filed at $965 billion. OpenAI at $852 billion. Three IPOs within months, combined value near $4 trillion, will vacuum allocator attention from every other market on earth.

India averaged 6% growth through a pandemic decade, Still gets filed under zero interest.

[Tejas Hegde @tejastrh92]

@TravelBluez Such an amazing article. Brutal truths put in a succinct way! Need to put it in practice now 😁

[Arvind Panagariya @APanagariya]

Dear @RBI: Do not let the psychology of Rs 100 per dollar determine your policy response. 100 is just a number, like 99 and 101. Whether the oil shortage is short-lived or long-lived, the right response at this moment is to let the rupee depreciate. 1/6

[Normal Guy @Normal_2610]

This is why Adani, after all the nonsense - violating every rule, taking risks that feel like death threat, when doing business in India

Absorbing political and geopolitical risk even with the US, trying to behave like Huawei, this name is a strategic asset for India after L&T, in my view as of now

Adani does real business, the kind of business a conglomerate should be doing, operating in sensitive sectors where capex is essential and scale is non-negotiable.

Adani goes into capex-intensive, high-regulatory zones and on top of that takes political risk. But now, Adani is slowly building ease with political clients, and that will not be a big issue in the future.

The amount of capex Adani has done in the ports business alone will make it harder for anybody to crack that moat.

Adani is building the next Reliance for the future generation, his own legacy and Adani Ports is already moving into new segments if you read the recent filings

Adani Ports crossed 500 million tonnes of cargo in FY26, handles 27% of India port volumes, and grew revenue 25% to ₹38,736 crore. The marine business alone grew 134% with 136 vessels now deployed globally.

Logistics revenue rose 55%. This is not a port company anymore. It is a full supply chain operator covering ports, trucking, freight, rail, and offshore marine services.

The capex moat Adani has built here over 15 years makes it nearly impossible for any new entrant to compete at this scale.

Adani takes risks no other Indian conglomerate touches, High capex sectors, long gestation periods, deep regulatory exposure, and political heat that would scare off most boardrooms.

That is what makes this group the closest thing India has to a Huawei or a Samsung in national importance. Vizhinjam port hit 100% utilization in nine months.

APSEZ signed the IMEC corridor deal with Marseille Fos, connecting Mundra directly into Europe, Now its marine arm Astro Offshore is entering European subsea operations with Oceaneering, committing $1.36bn through FY31. T

his group builds where nobody else will go.

The group plans ₹2 lakh crore capex every year for the next five years, Port capacity will double from 600 to 1,200 MMTPA by 2030. Renewable target is 50 GW. Airport capacity goes from 100m passengers to 200m.

The debt to equity on Adani Ports sits at 0.66 with ROCE at 14.1%, which is clean for this level of capex intensity, i feel.

India needs builders who will eat the risk in ports, energy, airports, and defence. After L&T, Adani is the only group with the hunger and the balance sheet to do it at country scale.

[Anish Moonka @anishmoonka]

A baby this age usually switches toys every 2-3 minutes. This duck stair toy holds their attention 10-15 minutes straight. Watch the baby's face. It's the focus a scientist gets when an experiment is finally working.

The experiment goes like this: "is the duck going to fall down again?" After the first cycle, the baby's brain has learned the rule, and every duck after that becomes a fresh test of it. The duck climbs, reaches the top, falls down the slide, and the prediction gets confirmed. Every confirmed prediction triggers a tiny pulse of dopamine, the same brain chemical you get when you finally remember where you put your keys. To a baby, watching the duck do the expected thing feels the way solving a small puzzle feels to you.

Researchers at the University of Rochester gave this its name back in 2012. They call it the Goldilocks Effect. Celeste Kidd's lab tracked 72 seven-month-old babies as they watched videos that ranged from very predictable to completely random. The babies looked away when the videos got too boring. They also gave up when things turned too random. They stayed glued only when the pattern landed somewhere in the middle, predictable enough to follow, surprising enough to feel interesting.

The duck staircase lives in exactly that zone. The rule is simple. But each loop has just enough variation, the order the ducks come in, the bounce of the slide, the timing of each fall, to keep the brain busy checking its own predictions.

Bright yellow on a pale frame. At four months old, a baby's vision is about a third as sharp as yours, so soft pastel colors blur into mush, but high-contrast colors pop out clearly. The whole toy is also constantly moving, and babies prefer moving things to still things from their first month of life. A baby's brain forms about a million new connections every second during their first year, so anything moving is a free chance to learn.

Compare the duck toy to a fast-cut video on a phone screen. The brain can't pull a pattern from thousands of unpredictable pixels per second, so attention drops. Now compare it to a plain wooden block. Nothing is changing, so there's nothing to predict, and attention drops the other way. The duck on the stairs is the rare toy that lands right between too-much and too-little. It's why this baby can stare at it for fifteen minutes while a $300 educational toy gets two. The duck toy costs about fifteen bucks.

[Tejas Hegde @tejastrh92]

@piyushchaudhry GOLD level analysis 🪙🥇✅

[Piyush Chaudhry @piyushchaudhry]

5 Quantitative Reasons Indians Love to Buy Gold

Brilliant insights. Amazing in-depth research. 🔥🔥����
If you have to read just one piece on Why GOLD should be a part of the portfolio? Then this should be it.
I’m increasingly convinced GOLD is the OG Long Term Asset for us Indians for wealth preservation.
Especially, physical Gold where you don’t get tempted to sell looking at the price.
Don’t bookmark to read it later. Read it Now !

Link
https://t.co/rBlrYcXf0C

[Miles Mogul @MilesMogul]

This was probably the most expensive package ever sold costing over 1.2M Bonvoy Miles!

and now, a part of it can be yours!

A luggage tag, a cap, a bucket hat and a polo from India's World Cup Winning campaign in 2026 is now up for grabs! ICC x Marriott Bonvoy co branded.

Simply RT to participate.

[Narendra Modi @narendramodi]

Champions!

Congratulations to the Indian team on winning the ICC Men’s T20 World Cup!

This remarkable triumph reflects exceptional skills, determination and teamwork. They have shown outstanding grit through the tournament.

This victory has filled every Indian heart with pride and joy.

Well done, Team India!

[Tejas Hegde @tejastrh92]

@SartanparaYash @CCMiles2Go 💯 ✅

[Tejas Hegde @tejastrh92]

@SartanparaYash @CCMiles2Go 😂😂
sirji the way it is positioned kuch revaluation ho sakta hai rg me?

[Tejas Hegde @tejastrh92]

@rhoeshan Amazing 😍 🔥

[Tejas Hegde @tejastrh92]

@ccg33k I bought ASV at 2.45 pm today, 2.95% charged. Between then and evening it got changed silently 🥲

[kumar saurabh @suru27]

Next time anyone comes on Shark Tank n asks for a particular valuation n if panel asks valuation rationale, they should say - the same rationale you gave for IPO 😂😂

[Pankaj Tibrewal @pankajtibre]

Markets, like life, move in cycles of excitement and pause. Since July 2024 (15 months) our markets have been flat. MSCI India has underperformed MSCI EM by more than 25% on rolling one year basis.

Market breadth has been extremely weak - only 44% of stocks managed to outperform the BSE 500, and barely 30% of BSE 500 names are even in the green on a rolling one-year basis.

[Tejas Hegde @tejastrh92]

@GabbbarSingh Wonderful commute. BKC, Marol and Worli are stations seeing good crowd

[Narendra Modi @narendramodi]

Vijaya Dashami celebrates the triumph of good and righteousness over evil and falsehood. May courage, wisdom and devotion always guide our paths.

Wishing my fellow Indians a happy Vijaya Dashami.