Vinay

@AshwinBadri2 Results from Claude are v diff though. Am talking of weekly nifty net dealer gamma

Since the start of the US Iran war, I genuinely haven’t seen dealer gamma this absurdly positive. My custom dashboard is currently printing +1,16,381 Cr NET POSITIVE GAMMA EXPOSURE on NIFTY. At the exact same time, India VIX has collapsed ~6-7%. That combination is not normal. This is the kind of positioning where every dip gets mechanically bought, volatility gets suffocated, and price starts behaving like it’s magnetized to dealer comfort zones. Market isn’t moving organically anymore. It’s being gamma pinned by an ocean of dealer hedging flow. Absolute insanity.

@shail_bhatnagar Fund closed for subscription

26/5/26 NIPPON INDIA TAIWAN EQUITY FUND NAV: `39.71/unit AUM: 1,140 cr. Launch: DEC 2021 Return since Launch 36.7 % CAGR 4 yr SIP of `10,000/M is now `18.50 lakhs. 75 % CAGR No. of Stocks: 31 Portfolio P/B: 13 Portfolio P/E: 64 Top Equity Holdings: CHROMA ATE, WINWAY TECH, MPI, MEDIATEK, DELTA ELECTRONICS ACCTON TECH, GCS HOLDINGS, ELITE MATERIAL, ASPEED TECH

@AshwinBadri2 U would do great tom as well.

Booked 28L. Now sitting on an expiry iron fly where I’m willing to risk the entire 28L for a potential 1.5Cr+ tomorrow. Max loss is approx 90K + 2.5L in charges! This is no longer a directional trade. This is a bet on: • expiry pinning • dealer gamma • theta collapse • liquidity holding together • Trump not doing “Trump things” Tomorrow this either becomes: “greatest screenshot of my life” or a masterclass on why greed arrives exactly after your biggest win.

@flexifinHQ @Normal_2610 We saw how ondc created fear for Zomato and Swiggy investors but failed to create any impact in real world situations

NPCI's contextual offers has not made a dent since GFC 2024. The reason it can't work on UPI is also 0 MDR. No incentive for banks to push subvention because no interchange income. Brands won't bear themselves. The article correctly points out that the brand EMI moat is the brand<>bank<>merchant network which Pine enables. Razorpay & Paytm tried but couldn't.

Pine Labs earns 83-84% margins by sitting between 400 brands and 40 banks, routing which EMI offer shows up at checkout NPCI is building EMI conversion directly into UPI, where any fintech app can trigger instalment offers through a QR scan without needing Pine Labs' integration layer.

@udaytharar Good data point

Since 1st January 2025, leaders of government or state heads that have visited China are 27. To the US half the number at only 14. Geopolitical shits are clear. US foreign policy uncertainty and China’s economic ascendancy both playing a part.

@AshwinBadri2 @Mitesh_Engr Awesome description Ashwin !

At open, realized vol is dead while IV is priced like Armageddon. Then intraday comes the mandatory “liquidity vacuum + fake breakout” ritual to wipe both buyers and sellers before everything magically normalizes. Add liquidity crunch, operator games, selective fake news leaks, and spreads wider than common sense. And if you somehow survive this obstacle course designed by the financial equivalent of a battle royale, you pay absurd charges just to place orders, then more taxes for taking risk & then tax again if you actually make money. Regulators really built a market where participating itself feels like a taxable offence.

Every day pattern since high VIX Overnight decay in option ( 2 or 3 DTE max ) Being a trader u will adjust strike & intraday overnight profit will reduced by 50 to 70% Observation : book profit in morning. Sell again at 3:25 Repeat every day.

@Spiritual_Trad @AshwinBadri2 Awesome. Pls Drop a tweet about how I go about incorporating stuff like gex in ur calculations before taking trades

@AshwinBadri2 Take some lessons guys. Brilliant systems yoh have if you made that amount. Cheers

Done for the day with 39Lakhs gain!

@kejimao @kejimao I hv read ur recent posts n concerns 4 india which seem genuine but EMs like india hv little choice coz we still depend on US/EU for export earnings. Trade deficit with china keeps rising every yr!!

Of course, India is not the only “blood bag” under pressure — Japan, South Korea, and Taiwan are unlikely to be spared either. However, the key difference is that, compared with other blood bag economies that have long since fully completed industrialization and possess surplus capital of their own, India’s domestic capital is extremely scarce, and the country is still in a phase of rapid growth. Therefore, every unit of capital drained from India carries a significantly higher opportunity cost than it would for the other blood bags.

@shahsagar43 @MattJones2401 @sandeepjethwani Flexi funds or balanced advantage funds should do the job as well I think. This is totally an unnecessary layer added to the top

@sandeepjethwani This is the MLM of PMS in India. Such a terrible product. So you select 5 schemes and then in turn own 250 stocks through those so in essence you own the market. So the chance to outperform is close to zero! On top of that charge the client MF (assuming regular) plus PMS! Scam!

Mutual funds are one of the best wealth creation tools available to Indians. Low cost. Professionally managed. Transparent. Tax efficient. They have quietly built more wealth for Indian households than almost any other product. But for someone with serious capital, picking the right schemes from 2,000+ options is its own problem. This is where the PMS license becomes powerful. PMS guidelines let you build a selection and allocation layer on top of mutual funds. You get the simplicity and tax efficiency of MFs, with a professional manager curating the portfolio, rebalancing it, and deploying HNI capital with intent. Spoke with @jashkriplani at @livemint on how Mutual Fund PMS works and why it is gaining traction in Indian wealth creator circles. Lower churn. Better after tax returns. Real alignment through profit sharing and the high watermark principle. Worth a read if you are wondering how PMS of Mutual Funds work.

@Rahul_J_Mathur And what’s a good entry price for diamond power. Btw, can I also ask for ur views on Meesho n Pine labs - I own both of them along with other Ecomm aggregators like urban co and eternal

@EcoVinn There is a capital goods company in the power space called Diamond Power

Eternal is 16% of my stock portfolio - it is my 2nd largest holding People truly underestimate the moat which has been created with 2.54 crore monthly transacting users, 1.7 crore sq ft of dark store space & 10 Lakh + delivery partners. India is hard: “Addresses are approximate, road infrastructure is always catching up & supply chains run on cash and handshake relationships” The Q4 FY26 results were encouraging - sharing my top 5 takeaways from reading the earnings yesterday:

Insane month of R&D. On to the next ☺️

@prakdadlani Wishing you guys well Prakash. As Rumi said “this too shall pass”. Am sure your customers as well as employees understand the situation are are willing to be flexible !

I've been nearly bankrupt. My factory burned down to zero. I've seen my containers drown in the sea. But this… still hurts. 3 months ago, life was different. The factory was running 24x7. Orders were full for the next 3 months. We needed 150 workers and still could not keep up. Today, it is the opposite. Half the machines are off. We need only 50 workers, and 200 are ready. Our pipeline is just 2 weeks. We went from shipping every day to not shipping at all. All because of war. Ships are not taking our cargo. Insurance is not covering our goods. Containers we sent are floating… with no clear end. Stock is sitting in our plant. Cash is not coming in. But expenses do not stop. We are bleeding. Today, we made a hard decision. We are shutting operations for 2 weeks. On paper, it makes sense. In the heart, it does not. It hurts to stop something you built with so much effort. It hurts to see people who depend on you stand still. The only light right now is our domestic business. It is growing. It is helping us stay alive. Not enough yet. But it is something. I keep reminding myself… we have been through worse. And we are still here. Tides turn fast. They always do. This war has shaken us. But it will not end us. We will survive this too. And when things get better, we will rise again.

@Rahul_J_Mathur Rahul which is your largest holding?

🟢Food delivery barely dropped despite LPG crisis: Demand is structurally inelastic Zomato NOV was down only 0.9% QoQ - despite menu costs rising by up to 10% in certain pockets, demand held firm; as Deepinder said: “platform-level throughput wasn't impacted” 🟡District is growing (albeit slower than Blinkit) District NOV grew 47% YoY to ₹2,750 crore while EBITDA margin has improved -3%. District has grown NOV only 3.25x in the past 8 quarters - growth isn’t explosive like Blinkit, it feels linear (for now). I continue to have high hopes given the fragmented nature of event ticketing in India. 🟢 Cash balance remains high Despite investment in District marketing (₹300 crore+) & 1000+ Blinkit dark stores, Eternal’s cash position has dipped by ₹852 crore (< 5%) to ₹17,972 crore - none of its peers have anywhere near a warchest of this size.

@Rahul_J_Mathur Awesome story. And yes I will become a customer …

Stuti and Ankit are atypical Brand founders - they are quiet on socials with no podcast interviews & no Forbes cover stories. The key learning from WishCare is the importance of innovation & patience with gestation - their hero SKUs were unique but took over 1.5 yrs each to find mainstream adoption They believe product is the best marketing - there is incredible customer love and this is a high quality business built from Kolkata! WishCare is great example of it being possible to build a capital efficient & profitable brand from a city beyond BOM, DEL or BLR 👏

Kolkata based WishCare is most underrated brand built in recent times: > Crossed ₹200 cr revenue in FY25 > Profitable for last 3 yrs > Only investor is Unilever Ventures > Started just 5 yrs ago > Founders own 86% of business WishCare is on track to do > ₹350 cr of revenue for FY26, expand internationally & open offline stores Here is their story ⤵️

@akm1410 It was widely expected and Paytm had pivoted away fm payment bank model

Brutal body blow for Paytm.

@VineetTandon77 @InvestorOfJAMMU Exited this in small profit

@EcoVinn @InvestorOfJAMMU I’m really astonished…. How come u guys go with plain buying even though it’s far month…. U still have time …. Keep selling PE and CE too if margin is ther to further reduce debit !!!

Exited Cost to cost. From negative 5 lakhs to 0 loss. My timing was worst while buying this. But this time, will ensure perfect timing. Will buy it again once 23200 gap fills.

@Rahul_J_Mathur Valuations are in favour I say. V rough calculations go this way : assume a 20-25% pricing deflation in 3/4 years n assume productivity eventually rise coz of AI n margins get to 25-27% then also its a net net positive.

Infosys management insists that it is an “AI first” company - but their Q4 FY26 results painted a starkly different story. One of my friends who has a large position in Indian IT said these were “BKL” (😉) results - productivity going down, hiring plan backfired & random face saving PR before earnings ➡️The company had put its best foot forward at AI Day 2026 - shareholders have to truly believe that Topaz Fabric will be able to beat out WisdomNext by TCS - else we will see increasingly divergent results! Discl: Views are my own. Shared for educational purposes. Family & affiliates may have long positions on the IT Index & specific Indian IT companies. This post is not financial advice; DYOR.

Infosys FY26 results were 💩 For a company that calls itself “AI-first": > Revenue per employee is down 0.8% > Panicked & cut 8.4k roles in Q4 > Yet, managed to add net 11.3k headcount in FY26 There are 3 clear root causes ⤵️

Brilliant piece written in Nuclear Engineering International (NEI) magazine regarding the PFBR. Here's some excerpts dealing with the challenges of this program: "...The 2004 Indian Ocean tsunami that struck the Kalpakkam site shortly after construction began required a re-evaluation of safety features and protective structures..." "India’s PFBR is a pool-type reactor. In this design, the entire primary circuit (the core, pumps, and intermediate heat exchangers) is housed inside a single massive stainless steel main vessel filled with liquid sodium. Fabricating a vessel of that size (nearly 13 metres wide) to hold 1,150 tonnes of sodium at high temperatures while ensuring it could withstand seismic activity was a massive hurdle for Indian industry. Because of India’s historical position outside the Nuclear Non-Proliferation Treaty (NPT), there was very little sharing of technical “know-how” from Russia or the West for the PFBR. India’s exclusion from the NPT also led to international trade bans, making it difficult to procure high-end nuclear components and technology. India had to develop its own materials, such as specific grades of stainless steel (316LN) that could survive 40 years of sodium exposure without corroding or becoming brittle. Every component – from the sodium pumps to the steam generators – had to be designed and manufactured by Indian companies (such as L&T and BHEL) for the first time. India also had to integrated post-Fukushima safety requirements into a breeder design. Handling liquid sodium is extremely complex as it reacts violently with air and water. Significant setbacks occurred during the commissioning of sodium pumps and secondary cooling systems. There were also persistent difficulties in producing the mixed oxide (mox) fuel elements required for the core. Despite these difficulties, India’s nuclear programme is progressing. Currently India has a fleet of 18-20 pressurised heavy water reactors (PHWRs) that use natural uranium as fuel and produce plutonium-239 (Pu-239) as a by-product in used fuel – the first stage of the programme. With criticality of the PFBR it is now embarking on stage two." neimagazine.com/news/criticali…

@gurjota @voiceofcommonp Am exactly in same situation n hv a Honda city!!!!! but am thinking of going for a heavy EV (like a harrier EV) purely for highway safety coz Indian roads r v unsafe - wrong side driving n then also the Thar crowd who think they own d road. A 2.5ton harrier EV is crash proof!!

@voiceofcommonp Sounds about right.

Assume you have $1 million or ~10cr of financial/ investable assets. You have absolutely zero debt and your own house. You like driving yourself and you must buy a car. Will your primary car be something like Honda City or another car with a similar/cheaper price?

@VineetTandon77 @InvestorOfJAMMU These are mainly partial portfolio hedges. I carried a dec end 25k expiry earlier n made money on it nicely. This time need some luck to exit at break even.