Author, podcast host!
Mumbai
Joined December 2007
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And finally it's out! My third book! Two years of research, writing, and travels. One story of a Titan of India's industry and of Champaklal Choksey, one of four original founding members. The Rise of Asian Paints: Champaklal Choksey, a Doyen of the Indian Paints industry. On Amazon and across bookstores.
amazon.in/Rise-Asian-Paints-…
Anupam Gupta retweeted
Those who promote Metro technology avoid confronting the simple (empirical) question: how have Metros in Indian cities actually fared against their ridership projections?
The poor performance of Metro systems was admitted in 2022 by a Standing Committee which remarked that most Metros (except for Delhi and Mumbai’s Line-1) have seen actual ridership lower than required to break even.
Read more in today's Mumbai Mirror: mumbaimirror.com/opinion/met…
MD resigns to remove overhang on stock and the stock itself crashes 14% because of his resignation 🤔 #EquitasSFB
This guy. From Douglas Jardine in Bodyline (which I saw on DD as a kid in school) to The Matrix and now this. What a fantastic actor. Fan.
Anupam Gupta retweeted
The Gentleman, Mobland, This City is Ours, Kin, Slow Horses. The Us really cannot chat to the UK when it comes to crime dramas.
Oh, experts view that Mumbai real estate prices are going to crash? Yes, I'm waiting to grab a sea facing 3BHK at a mouth-watering deal discounted price of Rs5cr, no cost EMI discount extra. Everyone's waiting for that crash. Last it came in 2009 and got over in one weekend.
Anupam Gupta retweeted
Whats it called when u’re extremely self aware but keep ruining your life with the same patterns
The worst thing you hear is: but this happens in all cities in India.
Then after that comes: but this happens in all cities across the world.
Entire planet is in kalyug looks like.
Anupam Gupta retweeted
I genuinely have a question to all those who still call the city as Bombay and not Mumbai.
It has been 30 years since the city is renamed as Mumbai. And still the non-native speakers insist on calling it Bombay. Some of the native speakers also go by the same name while speaking in Hindi or English. I see that in reels, filmy people conversations, college kids' conversations, and everywhere else too.
I don't really have an issue with whatever you wanna call the city but the insistence of calling it Bombay is like disrespecting the local identity and language and feelings of the original inhabitants. And though Mumbai is a cosmopolitan city, it has its own language, culture, food, identify. The local flavour needs to be RESPECTED.
And don't give me a political argument.... Some of you weren't even born when the politics around it happened. Apart from that, what is the reason?
First US$100bn listing in India? Yes and also first that's come:
When Nifty is down 13% one year
When SIPs are at US$3bn/month
When FIIs sold US$65bn in last two years
When GDP growth is 7%
No RIL group company, indeed no Indian company had a 100b listing in such a scenario.
This is a sensible counter. Read.
Sentiment is one thing, and market performance is yet another. I think if whatever has happened in small and midcap in Oct 2026 (the relative underperformance) continues for some more time, then sentiment for even domestic retail investors will start to worsen. The jury is still out on this.
As far as this being the worst sentiment ever for India, few occasions come to mind. First, in 2008, the mortgage crisis culminated in the global financial crisis emanating from the US. Their market declined 30%. Our market declined over 60%, A mini credit crisis of our own, especially in the real estate sector, followed by capital outflows and it was further followed by terror attacks in Mumbai and India's largest corporate scandal (i.e., Satyam). I heard some experts express utter dismay, "Why should FIIs ever return to India?" On a 1 trillion market cap, 16 billion of selling resulted in a complete meltdown. There is no domestic market, pathetic governance and there is no free float. It's a one-way street. FIIs have learned the hard lessons. They will never invest back into India.
Second, in 2013, India was already dealing with telecom spectrum allocation-related scams (2G), the coal scam, and what was called phone banking. That was followed by yet another corporate scandal, which is related to the National Spot Exchange, and ended with India being classified as part of the Fragile Five because of poor external macro and lack of competitiveness of the economy. In August 2013, Nifty was a full 1,500 points lower than the peak made in Jan 2008, and the rupee went all the way down to the 67-69 range from about 50 a couple years earlier.
Finally, in 2020, in March, when the markets declined with the onset of COVID-19, India was the worst-performing market in the initial decline, nearly 40%. What was the narrative?
- Extremely humid tropical climate
- High density of population
- Extremely poor medical infrastructure
- Poor hygiene and social protocols
India would be the worst-affected economy in the world.
We all know too well what happened after each of these occasions. I have seen India being called a basket case at least three to four times in my 27 years.
I am not too proud about it or sanguine about it, but it serves investors well not to get carried away by extreme narratives.
LRS going to zero is not good at all. Even if it's a rumour or a test balloon, it's not a good signal to send. Not sure if all biz channels are going with that story, I only saw Zee Biz so far. Good time for RBI to clarify since RBI has been named.
Happy Jio day to one and all but mainly to those who got allotted shares and of course to the Ambani Parivar. Third generation has arrived and, I'm very sure, will break the third generation curse. #JioListing
Veterans like Ajit Dayal and Akash Prakash are different. They don't write much, they're not on CNBC every week, they certainly don't beg for attention on social media. Most of all, they've seen more cycles than most. They know what they're writing. I'd learn from them not teach to them.
When I see bearishness today, I rationalize with:
1. Sensex and Nifty can still be duds for another 5-7 years from here. We've seen lost decades in the past.
2. There are other assets to invest in. There are other mutual funds to invest in.
3. Some day, Sensex, Nifty will perform. They have to. It's a matter of time. Maybe now is not that time.
