Co-founder & Managing Director, Marketnomix 

Rajan Govil

Co-founder & Managing Director

Marketnomix 

Macroeconomics

<p>Consumer Price Index (CPI) inflation increased to 5.4% y-o-y in April 2016 compared to a 4.8% y-o-y rise in March 2016. Inflation was driven higher mainly by price increases in food and transportation.</p><p>Food prices increased 6.3% y-o-y in April 2016, compared to a 5.2% y-o-y rise in March 2016. The contribution of food prices to overall inflation increased from 2.4% in March 2016 to 2.9% in April 2016. This was largely due to a sharp jump in vegetable prices that increased 5.0% y-o-y in April…</p>

Consumer Price Index (CPI) inflation increased to 5.4% y-o-y in April 2016 compared to a 4.8% y-o-y rise in March 2016. Inflation was driven higher mainly by price increases in food and transportation.Food prices increased 6.3% y-o-y in April 2016, compared to a 5.2% y-o-y rise in March 2016. The contribution of food prices to overall inflation increased from 2.4% in March 2016 to 2.9% in April 2016. This was largely due to a sharp jump in vegetable prices that increased 5.0% y-o-y in April…

India: Consumer Price Index Inflation Back Above 5.0%

APAC IPOs & Placements, Aequitas Research

Akshat Shah

APAC IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Capital Markets

Raajmarg Infra Investment Trust / Equity Capital Markets

Raajmarg Infra Investment Trust (RIIT IN)

<ul>
<li>
<a href="https://www.smartkarma.com/entities/raajmarg-infra-investment-trust" target="_blank" data-smartkarma-citation="entities:47598:1" rel="noopener">Raajmarg Infra Investment Trust (RIIT IN)</a> raised around US$650m in its India IPO.</li>
<li>RIIT owns and manages a portfolio of five highway assets in India spread across six cities, like Tamil Nadu, Karnataka, Jharkhand, and Andhra Pradesh, as per the CARE Industry Report.</li>
<li>We have looked at the company’s past performance and valuations in our previous notes. In this note, we will talk about the trading dynamics.</li>
</ul>



Raajmarg Infra Investment Trust (RIIT IN) raised around US$650m in its India IPO.
RIIT owns and manages a portfolio of five highway assets in India spread across six cities, like Tamil Nadu, Karnataka, Jharkhand, and Andhra Pradesh, as per the CARE Industry Report.
We have looked at the company’s past performance and valuations in our previous notes. In this note, we will talk about the trading dynamics.


Aequitas: Raajmarg Infra InvIT IPO Trading - Decent Demand; Leads Past REIT Listings

<ul>
<li>
<a href="https://www.smartkarma.com/entities/raajmarg-infra-investment-trust" target="_blank" data-smartkarma-citation="entities:47598:1" rel="noopener">Raajmarg Infra Investment Trust (RIIT IN)</a> is planning to raise about US$652m through its India IPO.</li>
<li>RIIT owns and manages a portfolio of five highway assets in India spread across six cities, like Tamil Nadu, Karnataka, Jharkhand, and Andhra Pradesh, as per the CARE Industry Report.</li>
<li>In this note, we talk about the company’s historical performance, peer comparison and IPO valuations.</li>
</ul>



Raajmarg Infra Investment Trust (RIIT IN) is planning to raise about US$652m through its India IPO.
RIIT owns and manages a portfolio of five highway assets in India spread across six cities, like Tamil Nadu, Karnataka, Jharkhand, and Andhra Pradesh, as per the CARE Industry Report.
In this note, we talk about the company’s historical performance, peer comparison and IPO valuations.


Aequitas: Raajmarg InvIT IPO - Stable Assets in a Small Portfolio, but Limited Immediate Appeal

Consumer Analyst / Channel Surveillance Specialist, Trudence Capital Advisors

Pranav Bhavsar

Consumer Analyst / Channel Surveillance Specialist

Trudence Capital Advisors

Trudence Capital Advisors Private Limited is a SEBI-registered Research Analyst, holding SEBI registration number INH000015747. Our firm is dedicated to providing independent and unbiased research on Indian mid to large-cap companies. Trudence Capital is known for its counter-consensus views, with a focus on forensic research and on-ground primary investigations. Our research approach is thorough, involving detailed analysis of accounting practices and governance, alongside extensive channel checks.

Independent & Unbiased Research

Equity Bottom-Up

<ul>
<li>Indian equities are pricing durability; over the next few quarters we see earnings risk as pricing power, mix strength, and volume assumptions face incremental deterioration.</li>
<li>Across BRGR, DIXON, INDIGO, VBL, and KALYANKJ, consensus embeds normalization; while leading indicators point to operating leverage turning marginally negative</li>
<li>We present these as tactical earnings-direction basket targeting fragile unit economic and not a collapse call; modest deceleration is sufficient to drive estimate cuts and further de-rating</li>
</ul>


Indian equities are pricing durability; over the next few quarters we see earnings risk as pricing power, mix strength, and volume assumptions face incremental deterioration.
Across BRGR, DIXON, INDIGO, VBL, and KALYANKJ, consensus embeds normalization; while leading indicators point to operating leverage turning marginally negative
We present these as tactical earnings-direction basket targeting fragile unit economic and not a collapse call; modest deceleration is sufficient to drive estimate cuts and further de-rating


India Top Shorts | Pricing Power Illusions in a Slowing Regime

Kajal Jain

RSB Retail India Limited / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/rsb-retail-india-limited" target="_blank" data-smartkarma-citation="entities:45690:1" rel="noopener">RSB Retail India Limited (1633680D IN)</a> is looking to raise US$171m in its upcoming India IPO. </li>
<li>RSB Retail India is a Hyderabad-based multi-format apparel and lifestyle retailer, operating 70 stores across 22 cities in Telangana, Andhra Pradesh, and Karnataka as of August 2025.</li>
<li>In this note, we discuss about the company’s historical performance.</li>
</ul>



RSB Retail India Limited (1633680D IN) is looking to raise US$171m in its upcoming India IPO. 
RSB Retail India is a Hyderabad-based multi-format apparel and lifestyle retailer, operating 70 stores across 22 cities in Telangana, Andhra Pradesh, and Karnataka as of August 2025.
In this note, we discuss about the company’s historical performance.


Aequitas: RSB Retail India Limited Pre-IPO - Leading Multi-Format Retailer in South India

India

Varun Beverages Limited (VBL) is an Indian multinational company and one of the largest bottlers of PepsiCo beverages in the world outside the United States. It manufactures, bottles, distributes, and sells a wide range of carbonated soft drinks, non-carbonated beverages, and packaged drinking water under trademarks owned by PepsiCo, including popular brands like Pepsi, Mountain Dew, 7UP, Mirinda, Sting, Tropicana, Gatorade, and Aquafina. The company is headquartered in Gurugram, Haryana, India, and was founded in 1995.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Varun Beverages (VBL IN)

India: Consumer Price Index Inflation Back Above 5.0%

Consumer Price Index (CPI) inflation increased to 5.4% y-o-y in April 2016 compared to a 4.8% y-o-y rise in March 2016. Inflation was driven higher...

Rajan Govil

Aequitas: Raajmarg Infra InvIT IPO Trading - Decent Demand; Leads Past REIT Listings

Raajmarg Infra Investment Trust (RIIT) raised around US$650m in its India IPO. In this note, we will talk about the demand and the trading dynamics.

Akshat Shah

Aequitas: Raajmarg InvIT IPO - Stable Assets in a Small Portfolio, but Limited Immediate Appeal

Raajmarg Infra Investment Trust (RIIT) is planning to raise about US$652m through its India IPO. In this note, we talk about the company’s...

Akshat Shah

India Top Shorts | Pricing Power Illusions in a Slowing Regime

Indian equities face earnings risk due to deteriorating pricing power, mix strength, and volume assumptions, leading to potential estimate cuts...

Pranav Bhavsar

Aequitas: RSB Retail India Limited Pre-IPO - Leading Multi-Format Retailer in South India

RSB Retail India is looking to raise US$171m in its upcoming India IPO. It is a multi-format apparel and lifestyle retailer headquartered in...

Kajal Jain

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

India: Consumer Price Index Inflation Back Above 5.0%

Consumer Price Index (CPI) inflation increased to 5.4% y-o-y in April 2016 compared to a 4.8% y-o-y rise in March 2016. Inflation was driven higher...

Rajan Govil

Aequitas: Raajmarg Infra InvIT IPO Trading - Decent Demand; Leads Past REIT Listings

Raajmarg Infra Investment Trust (RIIT) raised around US$650m in its India IPO. In this note, we will talk about the demand and the trading dynamics.

Akshat Shah

Aequitas: Raajmarg InvIT IPO - Stable Assets in a Small Portfolio, but Limited Immediate Appeal

Raajmarg Infra Investment Trust (RIIT) is planning to raise about US$652m through its India IPO. In this note, we talk about the company’s...

Akshat Shah

India Top Shorts | Pricing Power Illusions in a Slowing Regime

​Indian equities face earnings risk due to deteriorating pricing power, mix strength, and volume assumptions, leading to potential estimate cuts...

Pranav Bhavsar

Aequitas: RSB Retail India Limited Pre-IPO - Leading Multi-Format Retailer in South India

RSB Retail India is looking to raise US$171m in its upcoming India IPO. It is a multi-format apparel and lifestyle retailer headquartered in...

Kajal Jain

Indian equities face earnings risk due to deteriorating pricing power, mix strength, and volume assumptions, leading to potential estimate cuts...