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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
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, 2025
After surging 3x in 3 yrs, can PNB Housing Finance sustain the momentum? Subscriber Only
May 02, 2025 06:30 IST
PNB Housing Finance has sharply reduced NPAs and nearly doubled PAT since FY23. Write-backs have boosted short-term gains, but sustainable growth hinges on managing asset quality as the affordable housing book grows.
Sat, May 03, 2025
India’s largest baby products brand is turning around. Will it sustain?Subscriber Only
April 30, 2025 06:30 IST
Brainbees Solutions, the parent company of popular baby and kids brands FirstCry and Babyhug, is trading nearly 50% below its listing price. While its core business shows promise, diversification into other businesses clouds outlook. The question is: Is Brainbees still a value buy?
Tue, Apr 29, 2025
Does Bajaj Housing Finance deserve a kingly valuation?Subscriber Only
April 21, 2025 08:17 IST
Key factors influencing Bajaj Housing Finance Limited's valuation include asset quality, profitability, and growth potential. Its GNPA remains impressively low at under 0.35%, but concerns arise from its unseasoned loan portfolio.
Fri, May 02, 2025
Delhivery isn’t delivering — Can another acquisition fix it?Subscriber Only
April 15, 2025 06:30 IST
Delhivery has seen its stock fall from Rs 670 in July 2022 to Rs 247 now. But a recent distressed acquisition of rival Ecom Express might just be the catalyst it needs. With a strong balance sheet, growing PTL business, and signs of easing competitive pressure, could Delhivery finally be positioned to deliver value to public investors?
Mon, Apr 14, 2025
This large NBFC could gain big from a rate cut – and it’s not Bajaj FinanceSubscriber Only
April 11, 2025 06:30 IST
Since 2013, Cholamandalam Finance’s EPS has grown from Rs 0.5 to Rs 41, and its return on equity has remained above 15%. The company has posted an impressive 5-year CAGR of 23% in AUM and 30% in pre-tax profits. But can this stellar performance continue?
Fri, Apr 11, 2025
India Shelter Finance: Cracking the code on small-town lendingSubscriber Only
April 08, 2025 06:30 IST
While most lenders focus on salaried customers in metros, India Shelter has quietly built a high-margin lending machine in small-town India, where few dare to go. Its loan book has grown over 40% year-on-year, return on equity (ROE) stands at 14%, and bad loans are just 1.3%. The market is starting to take note — but the real test still lies ahead.
Tue, Apr 08, 2025
Shriram Finance: 15% ROE at 15% EPS growth, Is a re-rating on the cards?Subscriber Only
March 31, 2025 10:41 IST
A sharp turn in interest rates is usually a make-or-break moment for lenders. For Shriram Finance, it might just be the catalyst needed to support its dream run.
Mon, Mar 31, 2025
The rise, fall, and reinvention of Kaveri SeedsSubscriber Only
March 28, 2025 06:30 IST
After a decade of stagnant stock performance, Kaveri Seeds has staged a strong comeback. The company, once heavily reliant on cotton seeds, has successfully diversified into high-margin crops like maize and hybrid rice. Could this shift propel it toward sustained growth?
Fri, Mar 28, 2025
Avanti Feeds: After 8 years of 0% returns, is the tide finally turning?Subscriber Only
March 25, 2025 07:34 IST
Avanti Feeds, India’s largest shrimp feed player, has struggled with profitability. However, an expansion in EBITDA margins for its shrimp feed segment has fueled a stock rally. But is this turnaround sustainable?
Tue, Mar 25, 2025
From copier paper to corrugated packaging: Is JK Paper a value buy or a waiting game?Subscriber Only
March 19, 2025 06:30 IST
Value investors often overlook paper companies, but JK Paper’s strong financials tell a different story. With value acquisitions and cost advantage, the company has built a strong foundation. But rising wood prices and import pressures could test its resilience.
Wed, Mar 19, 2025
Is India’s largest microfinance player facing a deeper crisis?Subscriber Only
March 11, 2025 08:01 IST
The microfinance sector's history shows that being the largest player can be fleeting. SKS Microfinance's dominance ended with the 2010 Andhra Pradesh crisis, and Bandhan Microfinance lost its top spot after becoming a bank in 2015. Now, CreditAccess Grameen faces a challenge in Karnataka, where a new ordinance is impacting its loan portfolio. While CAG expects the situation to stabilise within months, broader concerns raise questions about its long-term stability.
Tue, Mar 11, 2025
Microfinance stocks at historic lows: Signs of a turnaround or more pain ahead?Subscriber Only
March 03, 2025 06:00 IST
Before the market-wide correction began in September 2024, India's microfinance sector was already showing signs of strain. A surge in IPOs between December 2023 and March 2024 hinted at a market peak, followed by sharp corrections. While some players have shown resilience, others have struggled with massive write-offs. With early signs of stabilising asset quality, the key question remains: Has the microfinance cycle bottomed out, or is more turbulence ahead?
Mon, Mar 03, 2025Journalism of Courage
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