Director, Head of Research, Smartkarma

Pranav Rao

Director, Head of Research

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

Event-Driven

Singapore Telecommunications / Event-Driven

<ul>
<li>Welcome to Curator’s Cut, a fortnightly roundup of standout themes from the 1,200+ Insights published over the past two weeks on Smartkarma</li>
<li>In this cut, we review value-unlocking moves by Singapore-listed companies, take stock of India’s jewellery retail market, and track how Taiwan’s largest ETF drives flows for its adds and deletes</li>
<li>Want to dig deeper? Comment or message with the themes you’d like to see highlighted next</li>
</ul>


Welcome to Curator’s Cut, a fortnightly roundup of standout themes from the 1,200+ Insights published over the past two weeks on Smartkarma
In this cut, we review value-unlocking moves by Singapore-listed companies, take stock of India’s jewellery retail market, and track how Taiwan’s largest ETF drives flows for its adds and deletes
Want to dig deeper? Comment or message with the themes you’d like to see highlighted next


Curator's Cut: Singapore Unlocks Value, India’s Jewellery Caution & Taiwan's Top ETF's Rebalance

Market & Forensics Analyst, Beat the Street

Nimish Maheshwari

Market & Forensics Analyst

Beat the Street

Beat The Street was founded by Nimish Maheshwari and Sudarshan Bhandari, both of whom are Chartered Accountants by Profession, known for their expert analysis in the fields of Business, Sectoral analysis, and Corporate governance.

With a strong social media presence of 45,000+ Subscribers across various platforms, they are considered trusted voices in the industry. Their insights and analysis have been featured in some of India’s most prominent publications, including the Economic Times, Dalal Street Investment Journal, The Morning Context, and The Ken.

Their analysis on Bankrupt & Insolvent companies has been instrumental in saving investors from significant losses. They have a keen eye for identifying red flags and has identified exclusive redflags earlier in Vedanta, Nykaa, Dhani Services, Adani and many more.

Read Business Not Stock Prices

Thematic (Sector/Industry)

<ul>
<li>India's listed jewellers posted Q4 FY26 revenue growth of 46–102% YoY, beating expectations across Titan, Kalyan, P N Gadgil, and Senco.
</li>
<li>Buyer volumes returned at Titan after three flat quarters, studded outperformed plain gold across every player, confirming demand beyond price inflation.</li>
<li>Akshaya Tritiya advance bookings look strong, may full results will confirm whether revenue beats translated into margin delivery across names.</li>
</ul>


India's listed jewellers posted Q4 FY26 revenue growth of 46–102% YoY, beating expectations across Titan, Kalyan, P N Gadgil, and Senco.

Buyer volumes returned at Titan after three flat quarters, studded outperformed plain gold across every player, confirming demand beyond price inflation.
Akshaya Tritiya advance bookings look strong, may full results will confirm whether revenue beats translated into margin delivery across names.


Indian Organised Jewellery Sector: Analysing the Q4FY26 Business Updates and What Lies Next?

<ul>
<li>Organised jewellery players delivered strong revenue growth despite a 30% YoY gold price spike, driven by festive demand, ticket-size expansion, and formalisation.</li>
<li>Q1 trends highlight a shift toward lightweight, low-carat designs reiterated by <a href="https://www.smartkarma.com/entities/titan-co-ltd" target="_blank" data-smartkarma-citation="entities:12630:1" rel="noopener">Titan Co Ltd (TTAN IN)</a> , with digital channels and franchising gaining momentum across the board.</li>
<li>With retail expansion and working capital discipline in focus, the players like Sky Gold appears poised for multi-format growth, aided by regulatory tailwinds and rising consumer trust.</li>
</ul>


Organised jewellery players delivered strong revenue growth despite a 30% YoY gold price spike, driven by festive demand, ticket-size expansion, and formalisation.
Q1 trends highlight a shift toward lightweight, low-carat designs reiterated by Titan Co Ltd (TTAN IN) , with digital channels and franchising gaining momentum across the board.
With retail expansion and working capital discipline in focus, the players like Sky Gold appears poised for multi-format growth, aided by regulatory tailwinds and rising consumer trust.


Jewellery Q1FY26 Report: Winners and Themes Amidst ₹1 Lakh Gold

<ul>
<li>PM Modi on May 10 urged Indians to halt gold purchases, revive work-from-home, and cut fossil-fuel use, directly threatening the demand base of three listed sectors.</li>
<li>With crude above $100/bbl, a strained rupee, and FY26 gold imports at a record ~$72billion, the PM's remarks signal that policy tightening, including possible import-duty hikes, cannot be ruled out.</li>
<li>The sell-off in Titan, IndiGo and Maruti may look like a sentiment tantrum, but the underlying macro mechanics argue the pain is structural, not episodic.</li>
</ul>


PM Modi on May 10 urged Indians to halt gold purchases, revive work-from-home, and cut fossil-fuel use, directly threatening the demand base of three listed sectors.
With crude above $100/bbl, a strained rupee, and FY26 gold imports at a record ~$72billion, the PM's remarks signal that policy tightening, including possible import-duty hikes, cannot be ruled out.
The sell-off in Titan, IndiGo and Maruti may look like a sentiment tantrum, but the underlying macro mechanics argue the pain is structural, not episodic.


Modi's Speech Signal Hits Three Sectors in One Day

Equity Analyst - Fundamental & Thematic, Sree Capital

Sreemant Dudhoria

Equity Analyst - Fundamental & Thematic

Fundamental Research on Listed Indian Companies

Sree Capital

Sree Capital is a platform to share fundamental research on listed Indian companies. We do this research for our own investment

Equity Bottom-Up

<ul>
<li>March 2026 insider activity was very strong with 60+ companies reporting insider accumulation spanning large caps and mid/small caps.</li>
<li>We present the key sectors which saw insider buying during the month along with names which have moved significantly above the insider buying price.</li>
<li>Also mentioned in this insight are the names which are available significantly below the insider buying price.</li>
</ul>


March 2026 insider activity was very strong with 60+ companies reporting insider accumulation spanning large caps and mid/small caps.
We present the key sectors which saw insider buying during the month along with names which have moved significantly above the insider buying price.
Also mentioned in this insight are the names which are available significantly below the insider buying price.


Insider Activity: Who Is Buying Their Own Stock During the Market Correction? – March 2026

India

Thanga Mayil Jewellery Ltd. designs and manufactures jewels. The Company distributes and sells gold and silver necklaces, bangles, earrings, rings, chains, and anklets, as well as vessels, sculptures, tumblers, and other gifts. Thanga Mayil Jewellery serves customers worldwide.

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Thanga Mayil Jewellery (TJL IN)

Curator's Cut: Singapore Unlocks Value, India’s Jewellery Caution & Taiwan's Top ETF's Rebalance

We review how value is being unlocked in Singapore, why Indian jewellery retail merits due diligence, and Taiwan's largest ETF's impact on flows

Pranav Rao

Indian Organised Jewellery Sector: Analysing the Q4FY26 Business Updates and What Lies Next?

Indian jewellers Titan, Kalyan, P N Gadgil, and Senco exceed revenue expectations in Q4 FY26, with strong demand for studded jewelry and potential...

Nimish Maheshwari

Jewellery Q1FY26 Report: Winners and Themes Amidst ₹1 Lakh Gold

Organised jewellery players see strong revenue growth despite gold price spike, focusing on lightweight designs and digital channels for future...

Nimish Maheshwari

Modi's Speech Signal Hits Three Sectors in One Day

PM Modi's call to halt gold purchases and cut fossil-fuel use threatens sectors like Titan, IndiGo, and Maruti, signaling possible policy tightening.

Nimish Maheshwari

Insider Activity: Who Is Buying Their Own Stock During the Market Correction? – March 2026

There was strong insider buying activity even during the last week of March 2026. Notable names include GMR Airports, Info Edge, Jindal Stainless,...

Sreemant Dudhoria

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Curator's Cut: Singapore Unlocks Value, India’s Jewellery Caution & Taiwan's Top ETF's Rebalance

We review how value is being unlocked in Singapore, why Indian jewellery retail merits due diligence, and Taiwan's largest ETF's impact on flows

Pranav Rao

Indian Organised Jewellery Sector: Analysing the Q4FY26 Business Updates and What Lies Next?

​Indian jewellers Titan, Kalyan, P N Gadgil, and Senco exceed revenue expectations in Q4 FY26, with strong demand for studded jewelry and potential...

Nimish Maheshwari

Jewellery Q1FY26 Report: Winners and Themes Amidst ₹1 Lakh Gold

​Organised jewellery players see strong revenue growth despite gold price spike, focusing on lightweight designs and digital channels for future...

Nimish Maheshwari

Modi's Speech Signal Hits Three Sectors in One Day

​PM Modi's call to halt gold purchases and cut fossil-fuel use threatens sectors like Titan, IndiGo, and Maruti, signaling possible policy tightening.

Nimish Maheshwari

Insider Activity: Who Is Buying Their Own Stock During the Market Correction? – March 2026

There was strong insider buying activity even during the last week of March 2026. Notable names include GMR Airports, Info Edge, Jindal Stainless,...

Sreemant Dudhoria

Indian jewellers Titan, Kalyan, P N Gadgil, and Senco exceed revenue expectations in Q4 FY26, with strong demand for studded jewelry and potential...

Organised jewellery players see strong revenue growth despite gold price spike, focusing on lightweight designs and digital channels for future...

PM Modi's call to halt gold purchases and cut fossil-fuel use threatens sectors like Titan, IndiGo, and Maruti, signaling possible policy tightening.