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Rahul Rao
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Rahul Rao is an Equity Analyst. He bought his first stock in 2014 and has been active in the Indian stock market ever since. In his first job, he helped conduct one of the largest financial literacy sessions in the country between 2015 – 2021 for more than 1,50,000 investors. He helped start a family office for a 50-year-old conglomerate and worked at an AIF, focusing on small and mid-cap opportunities. He evaluates stocks using an evidence-based, first-principles approach as opposed to comforting narratives. Rahul is a CFA Charter holder. He also has a Bachelor’s degree in Aerospace Engineering.
More From Rahul Rao
The billion-dollar hangover: Can the Tata-backed Tejas Networks outgrow its BSNL anchor?Subscriber Only
March 14, 2026 06:30 IST
India’s first global telecom OEM crossed the billion-dollar revenue mark in FY25, but FY26 has brought a sharp slowdown. With Rs 2,363 crore in inventory and a delayed BSNL order, can Tejas Networks pivot to international private telcos?
Sat, Mar 14, 2026
Why Styrenix’s stock has fallen 45% despite strong fundamentalsSubscriber Only
March 11, 2026 06:30 IST
India’s ABS leader posts 29.5% ROE, remains debt-free, but Thailand acquisition bleeds Rs 28 crore a quarter amid Rs 350 crore expansion and rising FY28 competition
Tue, Mar 10, 2026
From 0 to Rs 1 lakh crore in 8 years: so why is Bajaj Housing Finance’s stock at a record low?Subscriber Only
March 06, 2026 06:30 IST
0.27% GNPA, 23% growth, and a AAA rating, yet Bajaj Housing Finance’s stock is down 35% from its highs. With ROE dragged to 12.3% by excess IPO capital, can Sambhav and leverage normalisation drive a turnaround?
Fri, Mar 06, 2026
Bandhan Bank’s Rs 6,872 crore gamble: Clean up now, profit laterSubscriber Only
February 28, 2026 06:30 IST
Bandhan Bank sold Rs 6,872 crore of bad loans, cutting GNPA to 3.3%. Profit is weak at Rs 206 crore and ROE at 3.2%. Turnaround hinges on credit costs halving to 1.6-1.7% by FY27 exit.
Fri, Feb 27, 2026
From Rs 47 crore PAT to Rs 252 crore in 3 quarters: Is CreditAccess Grameen’s worst behind it?Subscriber Only
February 24, 2026 06:30 IST
In Q4 FY25, CreditAccess Grameen’s PAT collapsed to Rs 47 crore as overleveraging, regulation, and floods hit collections. Three quarters later, profits rebounded to Rs 252 crore, and ROA climbed to 3.5%. The question now is simple: is the worst truly over?
Mon, Feb 23, 2026
GE Shipping at mid-cycle: What goes right, what can go wrongSubscriber Only
February 18, 2026 06:30 IST
GE Shipping holds nearly Rs 7,000 crore in cash, trades at a 14% discount to NAV, and has an offshore catalyst building for FY27. The stock has rerated, but the case hasn't closed.
Tue, Feb 17, 2026
Why China’s 45 MTPA capacity cap is a turning point for NALCO investorsSubscriber Only
January 28, 2026 06:30 IST
Aluminum producers such as NALCO, Hindalco, and Vedanta Ltd have benefited from China’s 45 MTPA capacity cap. NALCO, in particular, has seen a strong rally—but can it sustain this momentum?
Wed, Jan 28, 2026
Force Motors’ 3-year, 14x run: Is the commercial vehicle cycle turning, or has the stock run ahead?Subscriber Only
January 17, 2026 06:30 IST
Force Motors dominates niche CVs with a 70–75% market share while supplying luxury engines to BMW and Mercedes-Benz. A debt-free turnaround lifted FY25 profits to Rs 801 crore, with GST cuts now fuelling growth—though valuations remain premium. The question now is: can the next phase justify the valuation it commands?
Wed, Jan 21, 2026
80% market share, 80% EBITDA margins: Is IEX’s monopoly cracking?Subscriber Only
December 31, 2025 06:30 IST
IEX faces a binary future as a regulatory overhaul looms. Retail investors are exiting, while domestic institutions are doubling down — betting that 80% margins and market growth can withstand tighter price caps.
Wed, Jan 07, 2026
Triveni’s restructuring: Unlocking value or rearranging the pieces?Subscriber Only
December 26, 2025 06:30 IST
Triveni’s shareholders have approved a restructuring plan that will separate its high-margin power transmission business from its cyclical sugar and ethanol operations. The move aims to resolve a long-standing valuation mismatch, but whether it delivers meaningful upside depends on execution and market timing.
Thu, Dec 25, 2025
Is high debt blocking Rain Industries’ third boom-cycle rally?Subscriber Only
December 02, 2025 07:50 IST
Despite stronger aluminium prices and improving operations, Rain Industries' stock has lagged amid high debt and rising interest costs. With deleveraging underway, a major cement expansion planned, and valuations at multi-year lows, the question remains: can Rain spark another cycle of optimism, or is this time truly different?
Tue, Dec 02, 2025
Azad Engineering: Rolls-Royce and Boeing’s go-to Indian supplier — But is it overvalued?Subscriber Only
November 04, 2025 06:30 IST
Azad Engineering, a key supplier of precision engine parts for giants like Boeing and Rolls-Royce, boasts a massive Rs 6,000 crore order book. But with its stock trading at a 100x+ P/E, can it justify the sky-high valuation?
Mon, Nov 03, 2025
Vodafone Idea’s stock trades sideways: Can govt backing trigger a re-rating?Subscriber Only
October 15, 2025 14:25 IST
Vodafone Idea, now 49% owned by the Indian government, is making operational progress through network upgrades but still faces a Rs 76,000 crore AGR liability. The company’s long-term survival may depend on a potential government waiver.
Wed, Oct 15, 2025
Debt down 55%, EBITDA positive: Is the India Cements run sustainable?Subscriber Only
October 06, 2025 11:20 IST
UltraTech’s takeover of India Cements is driving a rapid transformation. Debt is down 55%, and Q1 FY26 EBITDA has turned positive. A Rs 1,500 crore green power capex aims to push EBITDA to Rs 1,000 per tonne by FY28. The question now: can the turnaround withstand market volatility?
Mon, Oct 06, 2025
This small-cap makes tools for Boeing and Airbus. Can it justify its 65x valuation?Subscriber Only
September 24, 2025 12:36 IST
Unimech Aerospace, a niche MRO tools and precision parts maker, is riding India’s aerospace surge. The stock currently trades at a trailing twelve-monthP/E multiple of 65x, highlighting strong growth expectations. Yet, the question remains: Is Unimech Aero another aerospace-and-defence hype story, or does it truly warrant a rich premium?
Wed, Sep 24, 2025
Apar Industries’ 90% CAGR run: Can the power sector darling keep delivering?Subscriber Only
September 08, 2025 06:30 IST
Apar Industries grew into a Rs 31,000 crore power giant with 90% stock CAGR. Now, with high valuations and modest growth ahead, investors must weigh risks versus rewards.
Mon, Sep 08, 2025
From 80x returns to 60% slide: Can Aarti Industries bounce back?Subscriber Only
August 26, 2025 07:19 IST
In the last three years, Aarti Industries’ stock has fallen nearly 60% as Chinese oversupply eroded margins and heavy capex dragged returns. With raw materials bottoming, a Rs 1,800 crore EBITDA target, and Zone-4 ramp-up underway, is a turnaround possible?
Tue, Aug 26, 2025
SpiceJet’s flight to recovery: Can the airline engineer another turnaround?Subscriber Only
August 07, 2025 13:46 IST
With over Rs 4,000 crore in fresh capital, major debt settlements, and plans to double its fleet by year-end, SpiceJet is positioning itself to ride India’s air travel rebound. Yet, persistent operating losses and delayed fleet additions leave one question unanswered: can it engineer another turnaround?
Thu, Aug 07, 2025
3 businesses, 1 deep discount: DCM Shriram’s demerger is a Buffett-style betSubscriber Only
July 14, 2025 06:30 IST
DCM Shriram Industries is unlocking value through a strategic demerger — separating its Sugar, Rayon, and Chemicals businesses into focused, independent units. A classic Buffett-style "work-out" trading at a ~36% discount to its SOTP valuation. A quiet opportunity with significant upside potential.
Thu, Jul 17, 2025
16x PE, 20% EPS growth, Rs 1,000 crore in cash: Why is Gulf Oil still under the radar?Subscriber Only
June 30, 2025 06:30 IST
Gulf Oil Lubricants has quietly doubled its revenue in five years and sits on over Rs 1,000 crore in cash. Yet its stock has barely moved. As it pivots beyond engine oils into AdBlue and EV charging, the question is: is it a hidden compounder or yet another value trap?
Thu, Jul 03, 2025
After a $3.3 bn acquisition, is it finally time to look at Biocon?Subscriber Only
June 24, 2025 12:31 IST
Biocon’s growth story has long been muted — until now. With Viatris in its fold and a strong biosimilars pipeline, the company is betting big. Yet, debt, dilution, and valuation concerns linger. Is Biocon at a true inflection point or just another pharma bet with delayed rewards?
Tue, Jun 24, 2025
From Rs 146 peak to Rs 48 trough: Inside Ola Electric’s stock plungeSubscriber Only
June 16, 2025 06:30 IST
Despite a 30% share in the Indian electric scooter market, Ola Electric’s FY25 revenue fell 9% to Rs 4,645 crore, and Q4 EBITDA plunged to –101%. Its stock price has seen a significant drop, falling from a peak of Rs 146 per share to the current trading price of Rs 48 per share. The question now is: Can Ola Electric turn today’s hefty losses into tomorrow’s profits?
Mon, Jun 16, 2025
Ramco Cements: A cyclical turnaround in the making?Subscriber Only
June 05, 2025 07:46 IST
After a decade of flat cement prices and margin compression, Ramco Cements may be nearing a cyclical inflection point. With consolidation among big players finally supporting price hikes, the company could benefit from both demand recovery and improved pricing discipline. Trading near historical valuation lows on P/B and EV/EBITDA, Ramco offers a compelling long-term opportunity, provided the cement cycle turns.
Thu, Jun 05, 2025
SMBC’s entry into Yes Bank: Is the turnaround finally taking shape?Subscriber Only
May 22, 2025 07:07 IST
Japan’s SMBC is betting big on Yes Bank with a 20% stake. But will it be able to drive the strategy change that Yes Bank needs?
Thu, May 22, 2025
Can Fin Homes is no longer a market darling, but are better days ahead?Subscriber Only
May 07, 2025 07:54 IST
Despite pristine asset quality and consistent profitability, Can Fin Homes faces market scepticism amid regulatory shifts, tech overhauls, and evolving risk dynamics.
Wed, May 07, 2025Journalism of Courage
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