Consumer Analyst / Channel Surveillance Specialist, Trudence Capital Advisors

Pranav Bhavsar

Pranav Bhavsar & the team at India Independent Insight (Iii), provide research on consumer companies operating or have exposure to in India. The research methodology focuses on carrying out on-the-ground channel surveillance/checks that include supplier/distributor/customer interactions, access to industry experts, and bespoke primary data sources that aid in providing unique insights and counter consensus ideas.  

Leveraging the team's forensic analysis along with channel surveillance, the team at Iii also aids investors in early identification of changing consumer trends, identification and quantification of accounting/governance risks, and the associated impact on the business model of the company.

Pranav has over 15 years of experience in the Indian equity market, and has worked with some of the global activists, long only and PE funds for their India projects. Prior roles also include building and leading an institutional sell-side desk. In his free time, Pranav is a traveler, biker, and a young Indian contributing to the country’s social and economic development.

Consumer Analyst / Channel Surveillance Specialist

Chow Tai Fook Jewellery: Play the Recovery

Titan Co Ltd (TTAN IN) | Fading Tailwinds, Potential Disappointment Lies Ahead

Titan (TTAN IN) | Jewellery Margins Surprise

Titan (TTAN IN) | Interaction with Watch Store Franchisees

Titan | Takeaways from Interaction with a Tanishq Franchise Store Owner

ASA Capital Management

ASA Capital Management is a boutique Research and Investment Advisory firm focusing on primary research in India. ASA provides bespoke research services to Institutional Clients with a focus on due diligence backed with primary research, Field Trips & Channel Checks.

Equity Bottom-Up

Chow Tai Fook Jewellery / Equity Bottom-Up

In this insight, we look at two prominent Asian jewellery retailers. <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> a retailer based in India and <a href="https://www.smartkarma.com/entities/chow-tai-fook-jewellery-group" target="_blank" data-smartkarma-citation="entities:549:1" rel="noopener">Chow Tai Fook Jewellery (1929 HK) </a>/ (CTF) based in Mainland China listed in HK.
There is no relative trade as TTAN and CTF have different index memberships, however, the comparison among the two gives insights on how these two industry leaders are tackling the COVID-19 crisis in their respective markets.
We also dwell on the financial numbers that explain why a valuation gap exists between Indian and the Chinese counterparts.

In this insight, we look at two prominent Asian jewellery retailers. Titan Co Ltd (TTAN IN) a retailer based in India and Chow Tai Fook Jewellery (1929 HK) / (CTF) based in Mainland China listed in HK.
There is no relative trade as TTAN and CTF have different index memberships, however, the comparison among the two gives insights on how these two industry leaders are tackling the COVID-19 crisis in their respective markets.
We also dwell on the financial numbers that explain why a valuation gap exists between Indian and the Chinese counterparts. 

Asian Jewellery Retailers | Titan Vs Chow Tai Fook