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"US dollar will be just one currency. US bonds will be just one asset." Ritesh Jain, founder of Pinetree Macro and former CIO of Tata Mutual Fund and BNP Paribas Mutual Fund, explains why the old rules of global investing are breaking, and why he believes India comes out a winner on the other side. What you'll hear • Why he calls the US "a one-trick pony, that of AI", and whether the AI bubble is deflating • Why gold fell in the middle of a crisis, and what oil has to do with it • What a long war and higher oil prices do to every other asset class • Why India is "the best strategically placed country in the world" • Why "your benchmarks do not have tomorrow's winners", and where the money may go next • The themes for the next 5-10 years: electrification, healthcare and AI • How to build your own macro thinking, and why AI won't do it for you Host: Ishmohit Arora, SOIC Recorded on 21 October 2026: some views may change after the US midterm elections. This episode is the audio of our YouTube video; watch it on YouTube (@SOICfinance) to see the charts and news on screen. Follow Ritesh Jain on X: @riteshmjn SOIC membership (StockScans membership included): https://learn.soic.in Coupon code SOICSCANS: a discount on SOIC membership. StockScans: https://stockscans.in Timestamps 0:00 Intro: the SOIC Podcast with Ritesh Jain 2:32 A protectionist US, yet US assets keep winning 7:21 Why old correlations are breaking 13:17 Is the AI bubble deflating? 18:06 Electrification after the data-centre boom 21:55 Self-reliance, while China cuts support 26:58 Think about the incentives of countries 29:00 SOIC membership: the medical devices webinar 30:52 Why did gold fall in a crisis? 39:49 What if the war drags on? 45:45 A modern-day cold war? 47:27 Where will the money go next? 51:12 Will AI make healthcare the big winner? 54:13 Themes for the next 5-10 years 56:43 How to build your macro thinking Disclaimer: For education only; not investment advice or a recommendation to buy or sell any security. Do your own research or consult a registered adviser before investing.

Ishmohit Arora breaks down the results from the top down: the market, the sectors doing well, and the companies with blockbuster numbers. Banks and financial services (SG Finserve, Angel One, Fedbank, IIFL Finance, Federal Bank, HDFC Bank, ICICI Bank), blockbusters from Polycab, TARIL, The Leela, Sri Lotus Developers, Jayaswal Neco and more, the IT sector, and finally ASML and TSMC on whether the AI boom is ending or about to accelerate.This episode is the audio of our YouTube video; watch it on YouTube (@SOICfinance) to see the StockScans screens and charts.Disclaimer: For education only; not investment advice or a recommendation to buy or sell any security. Do your own research or consult a registered adviser before investing.

In this SOIC business analysis, we decode Amber Enterprises India Limited and its transition from room AC manufacturing to electronics manufacturing services (EMS). Explore its three business segments—Consumer Durables, Electronics, and Railways & Defence—with a deep dive into PCB manufacturing, backward integration, smartphone assembly, growth triggers, and government incentives. We also examine revenue and margin potential, SOTP-based valuation, peer comparisons, and key risks, including commodity inflation, debt, and execution challenges. If you want to understand Amber Enterprises’ transformation and evaluate its long-term growth potential through fundamental analysis, this episode is worth your time.

This episode explores the current choppy phase of the Indian stock market, what past bull and bear cycles can teach investors, and how to approach passive vs active investing today. It covers SIPs, Nifty valuations, asset allocation, mutual fund selection, sector rotation, and how to identify high-growth businesses across themes like manufacturing, CDMO, EMS, data centres, power and healthcare. The episode also explains the TVGP framework — Theme, Growth, Promoter and Valuation — and how active investors can find opportunities beyond the index. If you want to understand how to navigate a stagnant market and identify the next pockets of growth, this episode is worth your time. podcast SOIC market breadth Mai…

In this SOIC business analysis, we deep-dive into Samvardhana Motherson International (Motherson) and its transition from a global auto-ancillary business into high-growth non-automotive sectors. We cover its business model, wiring harness and auto segments, M&A strategy, consumer electronics, aerospace, semiconductor opportunities, growth catalysts, valuation and key risks. The episode also explores how businesses can use their core capabilities to enter new verticals and improve growth, margins and cyclicality. If you want to understand Motherson’s transformation and identify the key drivers behind its next phase of growth, this episode is worth your time.

India’s investment cycle is changing. After years of consumption-led growth, capital is increasingly moving towards manufacturing, technology and strategic industries. In this episode, Ishmohit breaks down five major capex opportunities — semiconductors, space, EVs, EMS and aerospace & defence — while also exploring the data center boom and the value chains behind these industries. The focus is not on stock picking, but on understanding where capital is flowing, how new ecosystems are being built, and which businesses could benefit as these sectors scale. If you want to understand India’s next capex cycle and how to identify potential winners, this episode is worth your time.

In this episode, we look at two established industrial businesses from the TVS and Murugappa groups. We start with how we found them through conference-call summaries and StockScans, then work through their products, competitive advantages, growth plans and valuations. Sundram Fasteners is expanding in aerospace, wind and other non-auto applications. CUMI is investing in advanced ceramics for semiconductor equipment, fuel cells and defence. The bigger question is simple: can these established businesses use their existing capabilities to build their next growth engine? Let’s get into it.

CDMO businesses can look similar from the outside, but the real question is: what actually separates a great CDMO from the rest? In this podcast, Ishmohit and Sid will discuss their years of research through the SCALE UP framework, covering stickiness, chemistry, anchor clients, late-stage pipelines, Capex economics, utilisation and price. They will also break down the 6-tier CDMO mental model, industry growth drivers, AI, peptides, China-to-India shifts, regulatory barriers and the lumpiness of CDMO earnings. If you want to understand how to evaluate CDMO businesses before forming a view on individual stocks, this episode is worth your time.

Explore 4 unique stock-scanning techniques from SOIC and StockScans for smarter Indian equity research. The episode covers the Congrats Index, management sentiment, scan matches, sector-wise growth screening, and Research AI to identify business inflection points and emerging opportunities. Learn how to filter companies, analyse growth triggers, and move from screening to deeper business analysis across sectors like auto, bearings, defence, and CDMO pharma. If you want to build a sharper stock-research process and identify meaningful growth signals faster, this episode is worth your time.

A thermometer sounds simple. But when it has to measure extreme temperatures inside steel, power, chemical and other industrial plants, the business becomes far more specialised. In this episode of SOIC’s 20 Unique Businesses series, Ishmohit breaks down Tempsens Instruments, a niche industrial instrumentation company operating across temperature sensing, electrical heating solutions and specialised cables. We look at its business model, competitive advantages, growth triggers, key risks, IPO structure and valuation — and understand what makes this business unique. The bigger lesson: a unique business is not automatically a good investment. You first need to understand the business, its moat and the price you are paying.

In this episode, Ishmohit screens Q1 FY27 results using a simple framework: more than 15% revenue growth, more than 20% earnings growth, and expanding margins. From the entire results universe, the process narrows the field to roughly 50–60 companies and then goes deeper into their results, concalls, guidance, capacity additions, order books and end-customer commentary.The bigger takeaway is not a list of stocks. It is a way to read earnings season.Some of the strongest signals are coming from CDMO and pharma, power and HVDC, data-centre proxies, aerospace and defence, hospitals, diagnostics, specialised manufacturing and other niche businesses. The interesting part is what sits behind the numbers: new modalities, new plants, operating leverage, product diversification, capacity bottlenecks and customers entering new growth cycles.A good quarter is only the starting point.The real work is figuring out why earnings are growing, whether the growth can continue, and what has to happen for today's story to become FY29 or FY30 earnings.

StockScans is a powerful investing and stock-screening tool designed to help investors find winning stocks, track market and sector rotation, and build actionable watchlists. This episode covers stock scanning, growth and valuation filters, quarterly results, conference calls, shareholding changes, technical and fundamental screens, watchlist tracking, and alerts. Learn how to use a structured TVGP (Theme, Valuation, Growth, Promoter) approach to identify new earnings, growth catalysts, improving fundamentals, and emerging market leaders. If you want to build a smarter stock-research process and find high-potential businesses faster, this episode is worth your time.

In this episode, we use StockScans' Concall Scans to analyse Q1 FY27 conference calls across industries including forging, chemicals, pharmaceuticals, healthcare, electronics, IT services, and financial services. We break down management commentary, growth guidance, new products, capacity expansion, AI, exports, and emerging sector trends to understand where India's next growth opportunities may be developing. Instead of focusing only on quarterly numbers, this episode shows how conference calls can help investors identify long-term business trends before they appear in the financial statements. 👉 If you want to decode management commentary and identify long-term growth opportunities from earnings season, this episode is worth your time.

In this episode, Ishmohit and Yash break down Indo-MIM, one of the world's largest Metal Injection Moulding (MIM) companies. Discover how tiny metal parts create a huge competitive advantage, why precision engineering is one of India's fastest-growing industries, and what makes this business so unique. You'll also learn about the founder's journey, the company's business model, competitive moat, financials, growth opportunities, IPO valuation, risks, and whether it has the potential to become a long-term wealth creator. This video is part of SOIC's 20 Unique Businesses Series, where we explore businesses with unique competitive advantages and learn what makes them exceptional. 👉 If you want to discover unique businesses before everyone else and become a better investor, this episode is for you.

What makes small cap mutual funds one of the most rewarding—and most misunderstood—investment categories? In this episode, Ishmohit and Sarthak explain how small caps are defined, why they offer access to India's emerging growth themes, and how to manage the risks that come with them. They compare Trust Small Cap Fund, Helios Small Cap Fund, and Abakkus Small Cap Fund, covering each fund manager's investment philosophy, portfolio construction, liquidity, drawdowns, and the best approach to long-term small cap investing. 👉 If you want to understand small cap mutual funds and build a smarter long-term investing strategy, this episode is worth your time.