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

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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

<p>Over the past three years, Nestle India has outperformed the broader index Nifty 50 by ~59%. As revealed by our interaction with a Nestle Distributor, we expect the Outperformance over the longer term to continue. On valuations, <a href="https://www.smartkarma.com/entities/nestle-india-ltd" target="_blank" data-smartkarma-citation="entities:13101:1" rel="noopener">Nestle India (NEST IN)</a> has always commanded a premium. A pullback if any post the recent rally on rumours of Index inclusion, which is not likely as highlighted by <a href="https://www.smartkarma.com/profiles/brian-freitas" target="_blank" data-smartkarma-citation="accounts:4091" rel="noopener">Brian Freitas</a> in his insight <a href="https://www.smartkarma.com/insights/nifty50-rebalance-preview-rule-change-causes-confusion" target="_blank" data-smartkarma-citation="insights:31907" rel="noopener">Nifty50 Rebalance Preview - Rule Change Causes Confusion</a> , could be used to accumulate the stock with a 2-year horizon. </p>

Over the past three years, Nestle India has outperformed the broader index Nifty 50 by ~59%. As revealed by our interaction with a Nestle Distributor, we expect the Outperformance over the longer term to continue. On valuations, Nestle India (NEST IN) has always commanded a premium. A pullback if any post the recent rally on rumours of Index inclusion, which is not likely as highlighted by Brian Freitas in his insight Nifty50 Rebalance Preview - Rule Change Causes Confusion , could be used to accumulate the stock with a 2-year horizon. 

Nestlé India (NEST IN) | Channel Checks Suggest Outperformance May Continue