Carnelian Asset Management and Advisors
@carnelian_asset
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A boutique investment management firm who believes in investing in "Quality at a reasonable valuation" and "risk diversification through forensic analysis".
One Lodha Place, Lower Parel
Joined April 2019
In our earlier letter to investors - FAD FOMO FADE, we highlighted how market frenzies often lead to misplaced bets. We follow it up with a similar story, unfolding in unlisted shares. Many investors, driven by the glamour and exclusivity, have been paying unreal prices just for
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This Teacher’s Day, we celebrate the timeless role of mentors. Just as great teachers instill lessons that shape futures, the markets too impart wisdom in patience, resilience, and learning from every turn. At Carnelian, we believe every experience is a teacher guiding us
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May this Onam bring with it the golden glow of prosperity, harmony, and new beginnings for all. Wishing everyone a joyous and abundant Onam! 🌼. @vikaskhemani ; @khemani_swati; @manoj_bahety .#Onam2025 #NewBeginnings
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The GST Council’s landmark reforms mark a pivotal step towards rationalising rates and boosting consumption in the economy. The rationalisation of GST rates will act as a powerful trigger for a consumption boom, which in turn will fuel economic growth and strengthen India’s
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In every race lies a lesson beyond the finish line!. Just as sports teach us resilience, patience, and the will to keep going, investing reminds us that discipline and perseverance are the true markers of success. Celebrating the spirit of endurance this National Sports Day!
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Are pre-IPO investments and preferential allotments the new FADS in the market? Our founder & CIO, @vikaskhemani, explores the risks, opportunities, and long-term implications in this conversation with Kamal Manocha of @PMS_AIF_World . Click on the link to view the full Video:
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This Michhami Dukkadam, we humbly seek forgiveness for any mistakes made knowingly or unknowingly. May this day remind us to move forward with kindness, respect, and harmony. 🙏✨. @vikaskhemani; @manoj_bahety; @khemani_swati .#MichhamiDukkadam
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May the arrival of Ganesha ward off any and all uncertainty and make way for unlimited blessings. Wishing everyone a Happy Ganesh Chaturthi!. @vikaskhemani; @khemani_swati; @manoj_bahety.#GaneshChaturthi #GanpatibappaMorya
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S&P Global has upgraded India’s sovereign credit rating to BBB - the first upgrade in nearly two decades - reflecting strong confidence in the country’s fiscal discipline, macroeconomic stability, and growth trajectory. We see this as yet another milestone in India’s journey of
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L&T Chairman S. N. Subrahmanyan’s remarks on the revival of private sector capital expenditure highlight a pivotal shift in India’s investment landscape, signaling renewed confidence and momentum in long-term growth. This resurgence is a catalyst for innovation, sustainability,
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We took one of the most common narratives in the market and added a few figures to it for a fresh perspective. Based on the observed trend, corporate capital expenditures (capex) have been on the rise, matching the patterns of optimism from past growth spurts. In our recent
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Always keeping us secure from adversaries and uncertainties alike. May His divine blessing help us grow!. Happy Janmashtami!. @vikaskhemani; @manoj_bahety; @khemani_swati .#KrishnaJanmashtami #Janmashtami2025 #HappyJanmashtami
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In every new beginning lies timeless wisdom. Just as markets teach us to let go and embrace growth through every turn, Navroz reminds us to carry forward lessons from the past into a brighter tomorrow. Wishing you a prosperous and enlightened Navroz!. @vikaskhemani;
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From the Infrastructure we build to the wealth we create, every milestone takes us closer to a stronger, more connected, and prosperous nation. As we Celebrate another year of Independence, #ViksitBharat is no longer just a dream - it’s taking shape before our eyes.
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Do fads make you money?. We have seen time and again, investors often rush to put their money in a 'stock that's hot' or they think might be the 'talk of the town' soon. In the process, the actual core/business of the company is overlooked. Our letter this month, covers the
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A legend among Indian investors - Lt. Rakesh Jhunjhunwala. Even today, his lessons echo in our minds. While the big bull of India always remained one step ahead in investment ideologies, his outlook on life was just as valuable. Across market cycles, we always look back at his
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One of India's greatest structural strengths is its young working population relative to the rest of the world. As we continue to remain a 'youthful' and growth-driven country for the next decade, #ViksitBharat is on the horizon!. @vikaskhemani; @manoj_bahety; @khemani_swati
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Despite heightened volatility during the month, our portfolio remained resilient, declining less than the broader market and thereby generating positive alpha across periods (refer to the performance table). We continue to view the recent tariff-related developments as a
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To a bond made full of love, care and trust!. Wishing all the siblings a Happy Raksha Bandhan!. @vikaskhemani; @manoj_bahety; @khemani_swati.#RakshaBandhan #RakshaBandhan2025 #Rakhi #BrotherSisterLove
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Our Founder @vikaskhemani explains why the recent tariff developments are unlikely to cause long-term disruption. With India’s tariffs lower than China’s and strong consumer loyalty in key sectors, the structural outlook remains resilient. Khemani states, foreign capital
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