Insights
At Amaltas, we believe thoughtful investing begins with context. Our insights combine macro analysis, valuation discipline, and long-term perspective—curated to help you see beyond the noise and focus on what truly matters.
The Historical Lens: Benchmarking Equities and Commodities Against Gold
Saksoft: The Niche Architect
The GenAI Paradigm Shift in IT Services
Commodity Chemical: Clean Science and Technologies
Rain Industries: The Dynamics of a Turnaround
Decoding the AI bubble
Navigating Market Cycles
Cycles, not surprises: A perspective on dollar and bullion cycles since 1971
Why We’re Doing This Gold and silver have always been part of the Indian investment psyche. Each time bullion prices rally sharply, investor interest surges, accompanied by speculation and short-term decision-making. The objective of this report is to reduce that...
Beyond the Slowdown: India’s Micro‑finance Outlook
India’s Micro‑finance Story — From Bicycle Loans to API Rails India’s Micro‑finance Story — From Bicycle Loans to API Rails, and Why the 2024‑25 “Crisis” May Be Just Another Reset Micro‑loans have lifted millions of first‑time borrowers into the formal financial...
Bodal Chemicals: Below Replacement Cost, Above Recovery Potential
Executive Summary Bodal Chemicals Ltd. operates in the cyclical chemical sector, specializing in Dyestuffs, Dye Intermediates, and Basic Chemicals. The company has been navigating a challenging phase, marked by weak demand and fluctuating raw material prices, yet it...
The Next Plaza Moment
The Plaza Accord and the Global Consequences of Dollar Weakness: Capital Flows, Emerging Market Booms, and Asset Bubbles Background and Motivation Let’s rewind to the early 1980s. The global economic order was at a turning point, and the U.S. found itself...
Piramal Enterprises: A Strategic Reset with Hidden Value
Executive Summary Piramal Enterprises Limited (PEL), part of the Ajay Piramal Group, has undergone a significant strategic transformation over the last few years. What was once a conglomerate with exposure to pharmaceuticals, financial services, and real estate has...