Snapshots That Wow!

Hamara Bajaj!

The market cap of Bajaj Housing Finance (the new kid on the block) crossed the total market cap of the next ten largest housing finance companies combined even as the AUM is 1/5th of the next 10 combined!

Source: @abhymurarka

No more made in China?

The number of new companies founded in China has dramatically dropped post its peak in 2018.

Source: Financial Times

Dabba Cos. including THE dabba co!

“Bankruptcy filings in the US rose by 8 last week, the second-highest week in 2024.This included the famous ‘dabba co.’ Tupperware also filing for bankruptcy!

Meanwhile, in Q2 2024, the number of ongoing Chapter 11 cases hit 2,462, the highest in 13 years.”

Source: Kobeissi Letter

Vroom vroom!

A 1% CAGR in volumes over the decade and a 14% CAGR in market cap for the top 4 2W companies in India. Profits per vehicle grew at 10% CAGR in the same time frame (8% without the benefit of the corporate tax cut) owing to price hikes and premiumisation. The question remains- how long will this trend sustain without volume growth in the market!

Source: Kotak Institutional Equities

The future is the brightest!

Ather is raising capital for a greenfield expansion (35% of the proposed issue; approximately 930cr) in Maharashtra despite existing Hosur plant running at 30% utilisation. Proximity of the new plant to user markets is being touted as a reason for the expansion. The conviction in the future of volumes is staggering.

Source: ICICI Securities, Ather DRHP

Smarty (Pants) Salwar!

Tip of the hat to a brilliant ad by SULTAN- The King of Kurta in Kolkata!