India focused: IPO, special situations, Stylus Holdings

Himanshu Dugar

Himanshu is a SEBI registered independent equity research analyst (SEBI Reg No. INH200009944). He has 10+ years of experience in buy-side equity research through his stints at CRISIL and Miras investments.
At CRISIL, he has conducted deep analysis in multiple sectors ranging from consumer discretionary to pharma/ chemicals as well as consumer staples.
At Miras Investments, his role was to analyse late-stage investment opportunities in India focusing on Pre-IPO and IPOs.

Stylus Holdings is a buy-side equity research firm. We offer bottom-up investment ideas as well as provide on demand equity research and portfolio tracking. Our bottom-up ideas range from IPO/QIPs to special situations; the underlying criteria is to identify market dislocations that can generate 20+% IRR with a reasonable safety margin.
As part of our research process, we do a deep dive into the fundamentals of the company, evaluate their competitive positioning and assess their valuation.

India focused: IPO, special situations

Stylus Holdings

Stylus Holdings is a buy-side equity research firm. We offer bottom-up investment ideas as well as provide on demand equity research and portfolio tracking. 
At Stylus, our focus is to identify market dislocations that can generate 20+% IRR with a reasonable margin of safety. As part of our research process, we do a deep dive into the fundamentals of the company, evaluate their competitive positioning and assess their valuation.
Our investment team is led by Himanshu Dugar. Himanshu is a Chartered Accountant and a CFA charter holder. He has 10+ years of active experience in the stock market with stints at CRISIL Research, a S&P Global copmany and Miras Investments, a single family office based in Dubai.

Equity Research Firm

Equity Capital Markets

<ul>
<li>NSDL has been gearing up for its IPO and is very likely to hit the markets shortly within the SEBI stipulated deadline of 31st July.</li>
<li>NSDL historically had the upper hand over CDSL as institutional clients led to strong outperformance. But the booming retail investment landscape since 2021 has turned the tables on the leader.</li>
<li>Given that the trend of retail participation inching is expected to continue, NSDL needs to rejuvenate its approach to plough back market share. Payments banking business cant offset the impact.</li>
</ul>


NSDL has been gearing up for its IPO and is very likely to hit the markets shortly within the SEBI stipulated deadline of 31st July.
NSDL historically had the upper hand over CDSL as institutional clients led to strong outperformance. But the booming retail investment landscape since 2021 has turned the tables on the leader.
Given that the trend of retail participation inching is expected to continue, NSDL needs to rejuvenate its approach to plough back market share. Payments banking business cant offset the impact.


NSDL

NSDL Vs CDSL: A Bottom-Up Comparison