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

H-1B Fee Fallout: An Employee’s Perspective and Implications for Indian IT

Infosys Whistleblower Report | A Channel Check Narrative

Infosys - The Grim Numbers on H-1B Rejection Rates, Employee Costs and Unbilled Revenues

Infosys - A Buyers Perspective Post Whistle Blowing

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 IT outperformed over 10 years, but recent underperformance and weak R&amp;D spending raise questions on innovation versus high dividend and buyback payouts.</li>
<li>AI disruption threatens coding demand and outsourcing models, risking productivity shocks, workforce layoffs, and urban consumption downturns if companies don’t adapt with innovation.</li>
<li>Boards must prioritize bold investments and acquisitions over capital returns, positioning Indian IT as innovation leaders rather than risk-averse cash generators.</li>
</ul>


Indian IT outperformed over 10 years, but recent underperformance and weak R&amp;D spending raise questions on innovation versus high dividend and buyback payouts.
AI disruption threatens coding demand and outsourcing models, risking productivity shocks, workforce layoffs, and urban consumption downturns if companies don’t adapt with innovation.
Boards must prioritize bold investments and acquisitions over capital returns, positioning Indian IT as innovation leaders rather than risk-averse cash generators.


Indian IT | Urge to the Boards – Stop the Buybacks

Infosys Ltd Sp Adr

Indian IT | Urge to the Boards – Stop the Buybacks