2020

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Date: 14th September 2020 | Publication: Livewire Online businesses applications, portals and websites have been the way to do business leading into 2020 and with the pandemic taking over our lives this has thrown new opportunities with greater adoption of digital technology by individuals and companies. As individuals and entities, we are increasingly shifting to online rather than in person. This will expand the addressable market opportunity and go a long way towards further increasing the demand for digital services.   Click here to read the full article

Date: 8th September 2020 | Publication: Livewire If you didn’t own Walmart when they dominated US retailing or Woolworths in Australia when they went through the productivity loop and emulated Walmart’s “every day low pricing”, then perhaps consider this company in a geography with a massive tail wind. With penetration still low in India, it provides ample opportunity to pivot to an online model if required.   Click here to view the full article

The partnership between the University of Oxford and AstraZeneca is a leading candidate to develop a potential vaccine for COVID-19. If this proves successful, it will be undoubtedly unprecedented. However, the next big question is who can mass produce a vaccine that is both affordable and at such a scale?   Click here to view the full article

COVID-19 has impacted lives, livelihoods, and economic growth in almost every country. India, given its significant and dense population, is deeply impacted as seen by its 500,000 recorded infections and 15,000 deaths. It is likely that economic recovery is likely to be slow and measured as most of the stimulus so far has been directed towards the supply-side rather than demand. Businesses are struggling to cope with where to cut costs to ensure survival and maintain margins i.e. capex related to capacity expansion, operational costs or Click here to view the full article

An economic boom may be defined as a period where GDP growth is high on an absolute basis (above 5%) and higher than the period preceding it. India has experienced several such economic booms in the past. The catalyst for an economic boom in India is usually a preceding US recession or weak period of growth. Usually these periods are accompanied by a lower cost of capital, liquidity injections / stimulus and rising demand for foreign investment seeking growth capital.   Click here to view the full article

One of India’s comparative advantages is its Pharmaceutical Industry. Given low production and labour costs as well as an ageing global population, increasing awareness (ongoing and heightened by COVID-19) and improving accessibility and affordability, it is expected that India’s Pharma companies will benefit. It’s not without its challenges, but with increasing R&D spending and a growing local market, they will attract greater foreign and local investment. Read our article (5-7 minutes) on the current status and our thoughts on how it could play out. We also highlight the Pharma companies we currently hold in India Avenue portfolio.  Click here to view the article

So everyone has a view on the Corona virus and its impact on economies and markets. We dont have anything to add on the virus. We just know that in the long-term equity markets follow structural fundamentals. Company earnings in hashtag#India exhibit low volatility relative other more cyclically driven markets and price declines like this, driven by global concerns, will lead to opportunity. Have we found the bottom – your guess is as good as ours.   Click here to view the entire article