Macquarie Bank has been betting big on the world’s fastest growing economy, India, through its various infrastructure funds and joint ventures. One example is their recent L1 (highest) bid of $1.94bn for nine road assets under the Toll-Operate-Transfer (TOT) model. This deal is one of the largest FDI in public... Show More

India’s Prime Minister, Narendra Modi, was sworn in as India’s new Prime Minister in 2014 to much hype as no party had won by such a margin in 30 years. This was also monumental given his opposition, Congress party’s “Gandhi” domination that has ruled India for 49 of the past... Show More

Successful thematic investing is not just about correctly identifying long term structural trends but also positioning yourself early to take advantage of them as they unfold. We have identified several positive structural changes occurring in India that make it a very attractive opportunity for thematic investors. This long-term opportunity drives... Show More

India produces around 3.8m passenger vehicles (PV) a year making them the 5th largest manufacturer in the world. Currently they are behind Japan and Germany who are number 3 and 4 respectively. By 2020, India could potentially overtake both of them. How? India is becoming a global hub for small... Show More

Imagine a company that’s grown its revenue at 36% p.a. over the last 22 years simply selling underwear. What if I told you that the company has averaged a valuation of 46x since its listing back in March 2007, would you still invest in the stock? The company we are... Show More

Moody's Investors Service ("Moody's") last week upgraded the Government of India's local and foreign currency issuer ratings to Baa2 from Baa3 and changed the outlook on the rating to stable from positive. Show More

Valuations provide investors with a margin-of-safety when investing. However, what appears cheap for one, may not be so cheap for another. The most commonly used measure, particularly where earnings are transparent and sustainable, is the Price-to-Earnings ratio i.e. what price am I paying for the future earnings potential of a... Show More

Common perception, particularly in Australia, is that doing business in India is difficult, unfruitful and has many challenges ranging from sovereign, cultural and execution risks. Quite often perceptions are shaped by prior experiences and travel to India in prior decades. Show More

India is home to the world’s largest biometric identity program. The Unique Identification Authority of India has spent seven years collecting fingerprints, iris and facial scans for over 1.167 billion enrolled citizens. The World Bank's Chief Economist, Paul Romer, described it as "the most sophisticated ID program in the world". Show More

This may come as a surprise, but guess which country was the first to legislate social responsibility for corporations? India! Indian companies are engaged in several projects that are meaningfully impacting the lives of India’s poor and the surrounding environment. Unfortunately, you don’t hear about this in the Australian media. Show More

Growth is increasingly elusive in today’s world, particularly from companies experiencing organic top-line revenue increases. There are very few companies that can grow revenues and earnings organically from operating purely in Australia as many of their products and services are saturated domestically. So where do we find companies that are... Show More

Travis Kalanick, co-founder of Uber Technologies took the decision to step down despite many commending him for ignoring typical corporate management convention. However, investors were unhappy and subsequently pressured him to resign. So as a shareholder, in any business, who would you prefer, the Founder or CEO? Show More

The exciting story surrounding emerging markets has been the rise of two economic powerhouses, India and China. Whilst both countries share some basic similarities, they differ in many significant ways, most importantly stock market returns. In this wire, we articulate how they differ and what investors should expect going forward. Show More

Last week, Apple CEO Tim Cook told analysts that “India is moving fast. They are moving at a speed that I have not seen in any other country in the world.” Despite this and many other positive endorsements, investors often procrastinate and identify reasons not to invest in India’s growth.... Show More