Ambit Private Limited

Vikas Khattar, Co-Head – Investment Banking & Head – ECM & FSG Coverage at Ambit, recently shared his insights on the evolving role of InvITs in deepening India’s capital markets. From highways to data centres, InvITs are transforming how India finances its infrastructure growth — driving monetisation, unlocking liquidity, and creating new opportunities for investors and developers alike. At Ambit, we’re proud to be part of this transformation — having executed several marquee transactions across the InvIT and Infrastructure space, underscoring our deep sector expertise and proven execution excellence. #Acumenatwork #InvestmentBanking #InvITs #Infrastructure

From our #equityresearch desk:- Our analyst, Kumar Saumya Singh, compared the performance of Indian specialty chemical companies with Chinese specialty companies. He found that the performance of Indian companies was comparable to that of Chinese players in terms of growth and profitability up to the Covid period. They have outperformed Chinese companies after Covid. While there has been a slowdown in capital expenditure (capex) intensity from Chinese specialty companies after Covid, Indian companies continue to invest, supported by better balance sheets. Chinese peers saw an increase in leverage in the upcycle running into Covid, and hence had to slow down capex intensity after Covid. Indian specialty companies stand to benefit and are set to outperform their Chinese counterparts in the current volatile geopolitical environment, provided there are no major adverse tariff implications from the US. #Acumenatwork

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At Ambit, we spend a lot of time reading articles that cover a wide gamut of topics, ranging from zeitgeist to futuristic, and encapsulate them in our weekly #TenInterestingThings’ product. Some fascinating topics this week: Self-improvement (Ingredients for brilliance), Business (The RBI’s new rule for corporate acquisitions), Technology (AI trainers are overqualified), and Psychology (Why do we clap?). 1. Ingredients for brilliance [Source: Aeon] You too can access an immersive ‘flow state’ like great artists and athletes 2. What does the RBI’s new rule mean for corporate acquisitions? [Source: The Morning Context] Indian banks have been allowed to fund M&As, but the framework will matter as much as the opportunity 3. AI trainers are overqualified. But their alternatives are worse [Source: The CapTable] Thousands with Master's and PhDs are training chatbots for a few dollars an hour 4. From ghee to matcha, why Gen Z prefers drinking its way to wellness [Source: Livemint] Youngsters are turning to functional drinks and gut-friendly brews like kombucha for simple yet effective wellness   5. The surprising decline of SUGAR Cosmetics [Source: The Morning Context] After recording one of its worst years in the 2024-25 fiscal year, this company is now on a course-correction trajectory   6. What’s happening to reading? [Source: The New Yorker] For many people, AI may be bringing the age of traditional text to an end 7. The death of the student essay – and the future of cognition [Source: forkingpaths.co] A professor's reflections on the end of an era, as AI tools have murdered the student essay 8. Why do we clap? [Source: BBC] Applause is a contagious social pressure and a ritual of group conformity   9. How bread took the centre stage on India’s dining table [Source: Livemint] Bread is no longer just an accompaniment; it is the main star of fine-dining and deli menus   10. Jos Buttler: ‘A big burden has been lifted – I wasn’t the same leader after the 2023 World Cup’ [Source: The Guardian] Buttler on his post-captaincy career, his Ashes struggles, and the recent death of his father

Beyond Limits: Pushing Boundaries, Achieving More! Our Investment Banking team recently came together in Bali for an offsite that was all about connection, collaboration, and pushing boundaries. Teams from our Mumbai, Bengaluru, and Delhi offices joined in for a few incredible days of learning, adventure, and reflection. The reimagined strategy sessions opened up fresh conversations around innovation, technology, pitching, and scenario-based thinking — sparking ideas that will continue to shape how we work and grow together. Beyond the boardroom, the adventures — from river rafting and ATV rides to vintage car drives and a sundowner at Atlas Beach Club — celebrated what makes this team exceptional: trust, teamwork, and shared ambition. As the team returns recharged and inspired, this offsite stands as a reminder of what’s possible when we come together — to think boldly, challenge limits, and achieve more, together. #Acumenatwork #LifeAtAmbit #InvestmentBanking

From our #equityresearch desk:- Tax rejigs would be a structural catalyst for India's passenger vehicle (PV) sector, benefiting small cars (GST cut) and mid & large cars (cess removal) by improving affordability. Our analyst, Amey Dargude, believes that price reductions would accelerate the shift from small cars to utility vehicles (UVs), evident in rural areas too. Within UVs, premiumisation aids the UVC and UVM segments. A favourable financing environment has enabled aspirational purchases with >Rs1mn in size loans on the rise. Formalisation of discounts will lead to clawback of pre-GST cut OEM/dealer discounts and restrict absolute price decrease, warranting moderation in volume growth expectations. #Acumenatwork

Strategic Mastery: The Art of Execution by Ambit Asset Management Investing success is not just about being right most of the time - it's about how you act when you're wrong or right. In their October Newsletter, our Asset Management team unpack the execution styles that define the gap between average and exceptional returns. Read the full report here: https://lnkd.in/emsmWGma #Acumenatwork #AssetManagement #AIF #PMS

From our #equityresearch desk:- Our analyst, Kumar Saumya Singh, prefers specialty chemicals over basic chemicals across cycles. He believes specialties offer: a) better growth visibility, b) better profitability (higher EBITDAM across cycles), and hence c) better RoCE (>15%) than basic peers. Geopolitical uncertainties have delayed recovery. DIIs have been underweight for the last four years, but Indian specialty names delivered better growth than China peers after Covid despite demand slowdown. This was aided by better balance sheets and less aggressive capex in the period leading to Covid.

#AmbitInstitutionalEquities recently hosted 'Value to Vogue: Ambit Retail & Lifestyle Leadership Summit,' gathering thought leaders to explore the future of India’s discretionary and retail sector. The discussion highlighted the sector’s rapid growth over the past decade, driven by changing consumer mindsets, new categories, and emerging business models. As the industry enters its next phase, the conversation centered on premiumization, digital-first formats, organized penetration, and scaling of global brands — alongside opportunities in omni-channel integration, private labels, and supply-chain efficiencies. Our sincere thanks to the distinguished speakers: Damodar Mall, Pooja Sheth Madhavan, Soumya Kant, Deepak Chhabra, Vineet Gautam, and Bharat Jhaveri, for sharing their insights on brand building, distribution, unit economics, and capital allocation. A big shoutout to the Ambit Institutional Equities team for crafting an event packed with valuable takeaways. Nitin Bhasin Bijal Thakkar Devyani J. Videesha Sheth Aryan Garodia #Amcumenatwork #InstitutionalEquities #LifestyleSector #IndianRetail 

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