Anjana Menon

Of the more than 100 housing finance companies registered with the National Housing Bank, nearly 40—each with an asset size exceeding ₹1,000 crore—are likely to benefit from the latest initiative introduced by the quasi-regulator. https://lnkd.in/dUfHzRup

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PE funds are shifting towards EV components, charging and financing ecosystems, Aalok Shah speaks with The Economic Times . "Expecting more carve-outs and listings to unlock value," says Vikas Sehgal reports Shally Seth Mohile Rothschild & Co The Carlyle Group Highway Industries Limited Roop Automotives Limited Bain Capital Dhoot Transmission Pvt. Ltd. https://lnkd.in/dYtjcUw4

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After spending an hour dissecting my own conversation with Manish Chokhani, these were some key things that I thought about deeply. They helped me sharpen my focus on multiple facets of business journalism and investing. Putting them here the way I thought of it - The Architecture is Crumbling We're witnessing the end of an era that began post-WWII. Manish's observation, as has been of others like Naresh Katariya, that central banks now hold more gold than US treasuries for the first time in history isn't just a data point - in some sense, it's a seismic indicator of confidence erosion in the dollar-centric system. Heard it many times before, but it seems different this time. The numbers are staggering too. 60% of all dollars in circulation were created in just the last five years. When the world's reserve currency experiences such monetary expansion while simultaneously weaponizing reserves (as seen post-Russia sanctions), the inevitable result is a flight to hard assets. Gold's journey from $250 in 2002 to current levels, outperforming many markets without generating cash flows, tells the story of a world seeking store-of-value alternatives. The Processor's Trap Perhaps the most uncomfortable truth Manish presents - India remains trapped in the "processor" role—executing others' IP while they capture the value. Infosys codes for Amazon and Google; they generate $150 billion in profits while we celebrate our $5 billion. The absence of globally recognized Indian brands in consumer homes (barring a few Bajaj three-wheelers and Taj hotels) is a sobering reality check for the world's soon-to-be third-largest economy. Manish's framework - buy companies bottom-up, sell them top-down. The market moves first, economy follows. We're currently pricing in significant future certainty at premium valuations. The Global Imperative For a country whose average citizen is 28 years old, the math is compelling: 90% of wealth creation lies ahead, not behind, especially in sectors like capital markets. But this assumes we don't remain "frogs in the well". Understanding global disruptions—from EV transformation in China to the 2029 patent cliff in pharmaceuticals—becomes essential for both investors and entrepreneurs. The Indian IT sector's evolution from Y2K beneficiary to potential AI casualty illustrates the conundrum for a long term bull on tech. Looking Forward Manish's analysis suggests we're at an inflection point where traditional playbooks become obsolete. The entrepreneurs building for the next decade must think in terms of IP ownership, global disruption awareness, and domestic market depth simultaneously. For investors, the message is equally clear: diversification beyond Indian equities, asymmetric bet-making, and understanding that activity rarely correlates with achievement in bull markets. The question isn't whether change is coming—it's whether we're positioning for the world that's emerging, not the one that's disappearing.

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Two good corporate stories in Mint today. 1. BluSmart’s bankruptcy case has run into a maze—the court-appointed resolution professional says the electric taxi operator’s most valuable assets, its cars and technology, are locked in subsidiaries outside the insolvency process, making it harder to get a fair valuation for creditors. By Ayaan Kartik https://lnkd.in/gDpfr87H 2. India’s midsize information technology outsourcers, having grown faster than their larger peers for two consecutive years, are now publicly stating that India’s top tech service providers are losing their mojo. Coforge Ltd, Mphasis Ltd, Persistent Systems Ltd, and Firstsource Solutions Ltd have also stated that they are better poised for growth against larger IT services companies, including Tata Consultancy Services Ltd, Infosys Ltd, HCL Technologies Ltd, Wipro Ltd, and Tech Mahindra Ltd. By Jas Bardia https://lnkd.in/gpM5yzbh

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Technology Has Become a Driver of Investor Confidence Aparna Kumar, founder, Nexora Tech Solutions, in conversation with ISMG's Rahul Neel Mani during a BTS-Mumbai session. Board-level technology decisions have evolved from being operational concerns to strategic levers that directly influence investor sentiment and market confidence. Investors increasingly reward institutions that demonstrate digital maturity, seeing tech-driven initiatives as indicators of future growth, profitability and strategic foresight. Cyber resilience and risk score are equally important in this assessment. CIOs play a big role in supporting business strategy by investing in the right technology. https://lnkd.in/dagfnwDZ #investors #VC #angelinvestor #technologyinvestment Aparna K. Information Security Media Group (ISMG) J.P. Morgan CIO's of India #board #CIO

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A conversation with Kumar Rajagopalan about the retail environment and sentiment ahead of festive season and after the GST cuts. Key Takeaways from their recent report - Retail sales in July 2025 grew 8% year-on-year, 3rd consecutive month of 7-8% growth - Steady recovery from 3-5% levels seen earlier - Apparel, Jewellery, Sporting Goods etc grew 9%  - Footwear, Beauty & Wellness saw 5% growth  - This year, the festive outlook is closely tied to GST reform - New rates are favorable for consumption in most categories Concerns remain around  - Garments and footwear above ₹2500 being placed under 18% slab - Mobile phones continuing at 18% despite being essential goods - High GST on commercial rentals that strain working capital for retailers He Says: - If sentiment improves, we can expect 10% growth in Retail Offtake  - Value segments are expected to pick up #Retail #Consumption #FMCG #RAI #GST #India #FestiveSeason #FMCGisLife https://lnkd.in/dAp28QQv

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