Care Portfolio Managers | Care PMS

Did you know? -India imports 85% of its 5.5M barrels/day crude needs -40-50% via Hormuz -A $10/barrel rise widens Current Account Deficit by 0.4-0.5% of GDP Watchout our Director @Arpit_Care_PMS share his views on changing macro economy and how an Investor needs to re-align their portfolios.

𝐁𝐞𝐧𝐠𝐚𝐥𝐮𝐫𝐮 𝐏𝐌𝐒 & 𝐀𝐈𝐅 𝐂𝐨𝐧𝐜𝐥𝐚𝐯𝐞 𝟐𝟎𝟐𝟔: 𝐌𝐞𝐞𝐭 𝐨𝐮𝐫 𝐄𝐱𝐩𝐞𝐫𝐭 𝐒𝐩𝐞𝐚𝐤𝐞𝐫 – 𝐀𝐦𝐢𝐭 𝐃𝐨𝐬𝐡𝐢 We are excited to welcome 𝐌𝐫. 𝐀𝐦𝐢𝐭 𝐃𝐨𝐬𝐡𝐢, 𝐂𝐨-𝐟𝐨𝐮𝐧𝐝𝐞𝐫 & 𝐃𝐢𝐫𝐞𝐜𝐭𝐨𝐫 𝐚𝐭 𝐂𝐚𝐫𝐞 𝐏𝐨𝐫𝐭𝐟𝐨𝐥𝐢𝐨 𝐌𝐚𝐧𝐚𝐠𝐞𝐫𝐬, as a speaker at the PMS Bazaar Conclave 2026 - Bengaluru Edition. Book your seat today and meet him on 𝟎𝟗 𝐌𝐚𝐲 𝟐𝟎𝟐𝟔 𝐚𝐭 𝐓𝐚𝐣 𝐌𝐆 𝐑𝐨𝐚𝐝, 𝐁𝐞𝐧𝐠𝐚𝐥𝐮𝐫𝐮. 𝐇𝐮𝐫𝐫𝐲! 𝐒𝐞𝐚𝐭𝐬 𝐚𝐫𝐞 𝐟𝐢𝐥𝐥𝐢𝐧𝐠 𝐟𝐚𝐬𝐭 – 𝐁𝐨𝐨𝐤 𝐧𝐨𝐰: pmsbazaar.com/Events/Conclav… Don’t miss this opportunity to meet, network, and gain insights from leading PMS, AIF & GIFT City fund managers. #Conclave2026 #pms #aif #giftcity #financeevent #bengaluruevent #pmsbazaar

Key insights our Investment Director @amitndoshi will share at the @PmsBazaar Conclave 2026 - Bengaluru Edition on 9th May.

Care PMS "Large & Midcap Strategy" ranked #2 in the Large & Midcap category based on long-term performance. Having completed 5+ years in 2025, our Large & Midcap Strategy has delivered 23.02% (1Y), 28.17% (3Y) CAGR, and 20.11% (5Y) CAGR maintaining consistency across different market cycles. Short-term returns may fluctuate. What stands out is how the strategy performed over a long period of time relative to its category. For more details : carepms.com/investment-app… Source: @PmsBazaar

Wishing everyone a vibrant Gudi Padwa 2026! This auspicious day on March 19 marks the Marathi New Year, symbolizing victory over evil, fresh starts, and abundant prosperity just like hoisting the Gudi flag outside homes decorated with neem leaves, flowers, and vibrant rangoli. At Care PMS, we see parallels in wealth creation: disciplined investing through market cycles leads to long-term growth and financial victories. May this festival bring new opportunities and sustained success for you and your family! Much like the spirit of Gudi Padwa inspires renewal and optimism, it’s a great time to reflect on goals, embrace fresh opportunities, and take confident steps toward a brighter financial future. Here’s to new beginnings filled with positivity and promise.

Why India is in a sweet spot out of all the Emerging Markets? A snippet from @moneycontrolcom's Global Wealth Summit.

Markets often react sharply to geopolitical developments; wars, conflicts, and global tensions can trigger immediate volatility. However, history suggests that these reactions are often temporary and the next 3Y, market remained favorable. Source: @soicfinance

The AI debate has returned and IT stocks are feeling the pressure. Recent developments around advanced coding AI from Anthropic's Claude and the correction in Global & Indian IT stocks have revived discussions around the long-term structure of traditional IT services. Over the past few years, IT remained a core part of institutional portfolios. At Care PMS, we kept exposure to traditional IT services almost negligible, as valuations and growth visibility did not offer enough margin of safety. Instead, we invested in technology enablers and domestic growth businesses, including companies which are more inclined towards Hardware side of the IT. Good portfolios are built not just by what we buy, but also by what we choose to avoid. Below is the last 5 years trend : #NiftyIT

Bull markets reward participation. Bear markets reward preparation. When prices fall, two things happen: Weak businesses get exposed. Strong businesses go on sale. One thing bear markets teach you is humility. They slow you down. They force you to re-evaluate assumptions. They expose overconfidence. But they also present opportunity. Quality companies rarely look attractive when optimism is high. They become interesting when fear dominates. This phase is less about excitement and more about preparation. • Strengthening portfolio quality • Improving allocation discipline • Building cash for conviction buys • Studying businesses, not price charts The bull run will return. It always does. The real question an investor must have is will I enter it with clarity and conviction or just stories and noise?

USA - INDIA Trade Deal done!🚨 After almost a year and multiple rounds of negotiations, the two countries came to a conclusion. Effective immediately, The US will charge a reduced reciprocal tariff, lowering it from 25% to 18%. A lower tariff than China. US Says, India Agreed To Stop Buying Russian Crude. #TradeDeal

Union Budget 2026: Market Takeaways & Portfolio Perspective Union Budget 2026 did not carry any big-bang announcements. Market reactions across sectors largely reflected elevated pre-budget expectations rather than adverse fundamentals. The unexpected announcement around STT weighed on sentiment, even as the Budget largely remained a continuation of the government’s existing policy framework, with a clear emphasis on fiscal discipline. Key Budget Highlights Worth Noting: Employment generation remains a priority, with targeted support across labour- intensive and skilled sectors such as textiles, electronics manufacturing services (EMS), tourism, and healthcare professionals. Tax holiday for data centers, providing long-term policy clarity and visibility for global cloud computing and AI ecosystem players. Continued thrust on sunrise and strategic sectors including semiconductor manufacturing, biopharma, and the development of rare-earth corridors. Shift in agricultural focus from basic staples to higher-value agri-produce such as sandalwood, coconut, cashew, and cocoa, aimed at improving farm incomes. Sustained government capex in defence, railways, and core infrastructure, reinforcing medium-to-long-term growth visibility. Rationalisation of buyback taxation, with buybacks now taxed as capital gains instead of dividend income, which could revive buyback activity and provide relative relief to small shareholders. From a portfolio standpoint, the Budget does not materially alter the outlook for our existing holdings at Care PMS. There are no direct adverse impacts on portfolio companies that warrant a change in our investment stance at this stage. That said, we will closely evaluate select sectors where policy intent and budgetary focus are visible, and assess whether any emerging opportunities merit inclusion. Historically, several meaningful reforms and growth-oriented measures have been implemented outside the Budget framework as well - GST rationalisation being a recent example. With the Budget now out of the way, market narratives are expected to revert to earnings delivery and growth visibility.

India’s industrial production expanded 7.8% in December, its fastest growth in two years, aided by strong growth in the manufacturing, mining, and electricity sectors. The manufacturing sector expanded 8.1% in December, its second-fastest expansion this fiscal year. Mining output grew 6.8% in December, up from the 2.7% expansion seen in the same time a year ago. It grew at an upwardly revised 5.8% in November.

Historic #IndiaEUTradeDeal is set to unlock a massive ₹6.4 lakh crore export uplift for Indian states! "This is India's biggest free trade agreement," Modi said. "It will make access to European markets easier for India's farmers and small business. It will also boost manufacturing and services sectors. It will boost innovative partnerships."

Top Expanding sectors for India

China import dependency narrows down by 5.5% in the longer run from the #IndiaEUTradeDeal Source : Kiel Institute for the World Economy

A deal which covers 25% of global GDP & one-third of world trade !!! Historic India-EU Trade Deal Done! India and the EU have finalized a landmark Free Trade Agreement (FTA) after nearly two decades - the so-called “mother of all deals. Important Strategic Impact: • INR 6.4 Lakh crore export boosts to Indian states. • Diversifies India’s trade beyond China and high US tariffs. • Strengthens ties, investment flows & regulatory cooperation. • Expected to boost jobs & competitiveness across manufacturing & services. ~99% of Indian exports to EU to enter duty-free >> huge boost for textiles, leather, gems, chemicals, marine products & more. ~ EU is India’s largest goods partner (~USD 136 bn trade) - easier access means more growth. ~ Indian exporters become more competitive vs rivals like Bangladesh & Vietnam. ~Services & professional sectors (IT, finance, education) get enhanced access. ~Cheaper industrial goods (machinery, medical tools, plastics & chemicals) helps reduce input costs for Indian manufacturers. ~Huge automotive opening: up to 250,000 EU cars/year at sharply lower duties (from ~110% → ~10%) - more choice for buyers ~ Combined market ~2 billion people & growth potential to push India-EU trade toward $200 bn by 2030. Positively impacted Indian states shown in the below picture

2026 Global CEO survey - Davos, Switzerland India emerges as the second-most preferred investment destination India has emerged as the second-most preferred destination for cross-border investment among global chief executives in 2026 ranking behind US and alongside the UK and Germany, (Up from fifth position last year), according to PwC's 29th Annual Global CEO survey. As per the PwC survey, 77% of Indian CEOs and 55% of global CEOs believe economic growth in their respective territories will improve over the next twelve months.

A day that reminded us of our school sports days; simple games, big smiles, and stronger bonds. Care PMS Sports Day brought the entire team together for a fun-filled day of classic group games, friendly competition, and pure team spirit. With four teams on the field, the focus wasn’t just on winning, but on participation, camaraderie, and shared moments that strengthen culture. Because great teams aren’t built only through meetings and milestones, but through moments like these🙂

IEX - Market Coupling : A system where bids from all power exchanges are pooled and cleared centrally to discover a single uniform electricity price, effectively shifting price discovery away from individual exchanges. Impact on IEX: The company currently benefits because most buyers and sellers trade on its platform, which gives it strong control over price discovery in the Day-Ahead Market (DAM). If this advantage weakens, the company may gradually face lower trading volumes, reduced ability to influence pricing, and pressure on profitability in the long run. Today’s update: While APTEL(tribunal) allows CERC to frame regulations, market coupling cannot be implemented without a formal regulatory framework, prolonging uncertainty and overhang for IEX. Disclaimer: Not a recommendation. Care PMS is not invested in this stock.

@AequitasL @sidd1307 Gone too soon. Om shanti💐

We mourn the loss of a great man, a brilliant mind – and for all of us, a beloved boss. The grief we feel today is extremely heavy, and we look to Siddhartha’s timeless perspectives, and your prayers as we navigate this dark time. We have learnt so much from him, and we stay dedicated as ever, to his guiding principles and to the organization he built. May his soul rest in eternal peace. Boss, you are deeply missed. For those who wish to share their condolences or a message in remembrance, please use the link below: forms.gle/SX7YapqFyXmXKg…