Dev Chandrasekhar

Dev Chandrasekhar advises corporates on big picture narratives relating to strategy, markets, and policy.

Titan's Best Quarter in a While Masks Non-Gold Concerns

Consumer business’s 46% growth continues a gold-price-driven recovery that began in October-December. Coins nearly tripled, but smart watches fell 53%, and the structural questions from last June's miss remain open.

Dev Chandrasekhar

April 13, 2026 at 7:24 AM IST

www.titancompany.in

Airtel's $1 Billion Nxtra Funding: Strategic AI Asset or Expensive Overhang?

The $1 billion round values the data-centre subsidiary at $3.1 billion, but hyperscaler ambitions, power constraints and fierce rivals test whether the bet pays off.

Dev Chandrasekhar

April 12, 2026 at 6:36 AM IST

Istock.com

BEL's Record Turnover Highlights a Steadily Accelerating Execution Cycle

A ₹740 billion order book and expanding margins are the headline. The story is the structural shift underneath, from long-cycle PSU to higher-velocity defence supplier.

Dev Chandrasekhar

April 6, 2026 at 5:26 AM IST

BEL

LG India’s Summer Optimism Faces Weather, War and Cost Uncertainty

A cleaner channel and price hikes set the stage, but LG India’s recovery leans on a flawless summer. Weather, input costs and geopolitics leave little margin.

Dev Chandrasekhar

March 25, 2026 at 7:03 AM IST

www.lg.com

Apollo Demerger Recasts It as a Pure-Play Hospital Story

The planned separation of HealthCo from the hospital core is as much a valuation argument as a strategic one. It arrives just as Apollo's value-over-volume thesis begins to pay off.

Dev Chandrasekhar

March 20, 2026 at 8:55 AM IST

iStock.com

When Crude Spiked, Reliance Didn't Move Like a State-owned Refiner

Jio-bp is the domestic fuel retail JV built over three years specifically to reduce Reliance’s exposure to the windfall levies and marketing losses that are now squeezing its PSU peers.

Dev Chandrasekhar

March 14, 2026 at 5:00 AM IST

www.jiobp.com

ONGC's Expected Windfall Could Be a Mirage

Brent at $110 is expected to flatter ONGC's numbers, but the government's reflex to claw back upstream windfalls, combined with a sputtering E&P engine, means the rally has a ceiling the market might be choosing to ignore.

Dev Chandrasekhar

March 12, 2026 at 5:48 AM IST

Indian Navy

Petronet and GAIL Are Not the Same Stock but Markets Miss the Point

Petronet built its entire business around one terminal in one country accessible through one strait. GAIL spent years building around all three of those constraints. When the market sold them identically, it wasn’t reading the risk — it was reacting to the headlines.

Dev Chandrasekhar

March 10, 2026 at 6:36 AM IST

iStock.com

Mahindra Pursues Toyota-Inspired Consolidation to Unlock Manufacturing Scale

The ₹150 billion unified production strategy replaces dispersed facilities to compete through operational leverage, platform adaptability, and asset efficiency

Dev Chandrasekhar

February 11, 2026 at 5:09 AM IST

iStock.com

Adani Green's Growth Machine Faces a Reckoning on Value

Opinion

India's largest listed renewable company demonstrates execution prowess, but collapsing profits and highly leveraged debt raise questions about premium valuations.

Dev Chandrasekhar

January 30, 2026 at 5:40 AM IST

Adani Green Energy

GAIL is Embedding Itself at Scale into India's Energy Infrastructure

Opinion

GAIL continues to be perceived as a mature utility even as it invests in becoming a total infrastructure play.

Dev Chandrasekhar

January 24, 2026 at 5:13 AM IST

iStock.com

Indian Oil’s Hefty Green Transition Bill Comes With Struggling Payback

Opinion

The prospects of IOC's green energy initiative appear shaky, forcing costly capital choices between profitable fossil operations and renewables commitments.

Dev Chandrasekhar

January 16, 2026 at 8:36 AM IST

iStock.com

Why L&T’s Defence Business Feels Strategic but Not Profitable

Opinion

L&T has built India’s broadest private defence platform, but slow procurement, falling margins and long gestation test whether patience can still pay investors.

Dev Chandrasekhar

January 8, 2026 at 9:10 AM IST

PIB

Coal India Chooses Ops Expertise over Strategic Transformation

Opinion

The world’s largest coal producer appears all set hunker down on optimising coal infrastructure even as demand and supply turn towards renewables, abandoning transformation for managed decline

Dev Chandrasekhar

December 19, 2025 at 12:13 PM IST

iStock.com

How Power Reforms Pulled BlackRock Into Grasim’s Renewables Play

BlackRock’s India renewable bet hinges on the draft Electricity Bill, which reshapes captive power economics, derisks tariffs, and rewrites industrial energy math.

Dev Chandrasekhar

December 16, 2025 at 7:04 AM IST

India's Proposed AI Labelling Rules Won't Stop Deepfakes — They'll Stifle Innovation

A cottage industry of vendors, consultants, and certification schemes is poised to add new layers of cost that slow product development and burden users, even as actual threats slip through undetected.

Dev Chandrasekhar

November 20, 2025 at 4:26 AM IST

Dragon Claws/iStock.com

SEBI's Derivatives Pullback Will Drive Speculation Offshore

Longer-dated contracts and reduced leverage will push trades to alternative assets and foreign jurisdictions, defeating the regulator’s objectives.

Dev Chandrasekhar

Sunil Goel

August 26, 2025 at 2:29 PM IST

Squeezed for the State, Royalty Payout Hits NMDC

India's iron ore giant generates record production and surging revenues, but margins collapse as state royalty mechanisms consume 40% of the top line.

Dev Chandrasekhar

August 25, 2025 at 12:47 PM IST

NMDC webiste

Can Tata Motors Pull Off Another JLR with Iveco?

The €3.8 billion debt-financed acquisition requires flawless execution simultaneously across multiple regulatory jurisdictions, technology platforms, and competitive battlegrounds.

Dev Chandrasekhar

August 13, 2025 at 12:19 PM IST

IVECO website

Dr Reddy's is Betting the Farm on Russia and Obesity Drugs

Dr Reddy's bets big on Russia and semaglutide, risking all on flawless execution as sanctions loom and lenalidomide revenues decline.

Dev Chandrasekhar

August 6, 2025 at 4:25 PM IST

iStock.com/stefanamer

The Bureau

IMD Sees Below-Normal Monsoon Rains for 2026; Rainfall Likely at 92% of Average

Equities Fall as Oil Breaches $100, West Asia Tensions Weigh

March CPI Rises to 3.40%, Highest in 12 Months as Food Prices Firm Up

US Threatens Naval Blockade of Hormuz, Escalates Iran Standoff

India’s capital flows outlook brightens as FDI holds firm, RBI says

India Remittance Flows seen Steady Despite West Asia tensions

Malhotra says RBI’s FX Steps Tactical, Not Structural

RBI Holds Repo Rate at 5.25% Amid Global Uncertainty: Key Policy Takeaways

Iran War Shadow: Livelihood Under Pressure in Post-MGREGA Rural India?

Learning to Shoot: I Tried to Fly Before I Could Walk