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SumanSpeaks Independent Capital Markets & Geopolitical Intelligenc e Equity Research · Consumer Retail — Jewellery PC Jeweller (₹13+): From ₹9.28 To A Debt-Free Balance Sheet — What Our July Readers Should Do Now When this platform examined PC Jeweller Ltd on 26th July 2026, the stock traded at ₹9.28, and we asked whether its near-complete deleveraging would finally close the gap with its subdued valuation. Six weeks on, the company has cleared debt with 9 of its 14 consortium banks, discharged over 96% of the rest, and the stock has climbed past ₹13 — this report checks whether the fundamentals have actually caught up. On 26 July 2026, when PC Jeweller traded at ₹9.28, our question was straightforward. Was the market underpricing a genuine, bank-monitored deleveraging story, or was the caution justified? Six weeks later, the market has started to answer. The stoc...

SumanSpeaks Independent Capital Markets & Geopolitical Intelligence Market Strategy · Sector Rotation & Trade Policy Money Is Rotating — And the US Trade Deal Is Part of Why SBI Life up 3.5%. HCL Tech down nearly 2%. Domestic institutions buying ₹8,930 crore in a single session while foreign investors sell. Nothing about early September 2026 looks like a market falling apart — it looks like a market choosing sides. The headline indices barely moved through the first week of September 2026. The Nifty 50 closed at 23,897.70 on Friday, September 4 — up a modest 0.10% on the day — while the Sensex added 362.57 points, or 0.48%, to settle at 76,515.43. Read only the index level, and you would call the week uneventful. Look one layer beneath the index, though, and the picture sharpens considerably. Life insurers and select NBFCs surged. Metal stocks led every s...

SumanSpeaks Independent Capital Markets & Geopolitical Intelligence Equity Research · Q1FY27 Results & Sector Outlook Ahluwalia Contracts at 17.8x: A Cheap Stock, or an Oversold One? Revenue climbed 12% in Q1FY27. Profit fell 78%. The order book crossed ₹20,600 crore. And the chart, for now, is flashing the kind of oversold reading that value investors watch for. Four different signals, one stock, and a question worth sitting with. Ahluwalia Contracts (India) Ltd (₹599.05) — is one of those names that rarely trends on financial Twitter but sits quietly on some of the country's most recognisable jobs. Central Vista's Common Central Secretariat Building in Delhi. The redevelopment of Chhatrapati Shivaji Maharaj Terminus in Mumbai. India Jewellery Park. A string of hospitals, institutional campuses and premium residential towers across sixteen states. ...

SumanSpeaks Independent Capital Markets & Geopolitical Intelligence Macro & Statistics · GDP Data Debate 7.8% Growth, Or A 7.8% Illusion? Inside India's GDP Data Wars A former Finance Secretary says the real number is 2.6%. The government says 7.8%. Both, on closer inspection, are telling only part of the story — and the part they're both skipping is where the real questions live: the deflator, the jobs data, and a GDP series that still can't properly see India's unorganised economy. 1 The Number That Started The Fight In February 2026, India moved its GDP base year from 2011-12 to 2022-23. This was the first such shift in over a decade, and it came with new data sources, a more detailed price index, and a shift to double deflation across sectors. When Q1FY27 GDP data came out showing 7.8% growth, former Finance Secretary Subhash Chandra Garg objecte...