Welcome to the AARD Deal Digest.
Through this newsletter, I track the key Bulk deals that happened during the week.
What is covered in the Deal Digest?
In the AARD Deal Digest, I will try to curate the key deals that happened in the week that was by the FIIs and DIIs that I track regularly.
Please note,
All data shared regarding specific securities in AARD Deal Digest purely for Illustrative, Knowledge and Informational purpose and is not in any manner an investment advice and should not be treated as recommendations.
For general recommendations, I write a weekly newsletter called The AARD Phoenix. You can check that out.
In Bulk Deals This Week
On 15th September 2025, there was a Bulk Deal in Laxmi Dental of 26.13 crore and of of 22.37 crore where investor ICICI Prudential Mutual Fund purchased 8,62,523 qty and 7,38,436 qty respectively in the company at 303.
On 16th September, there was a Bulk Deal in Carraro India Ltd of 44.90 crore where investor Bajaj Allianz Life Insurance Company Limited purchased 10,00,000 qty in the company at 449.
On 17th September, there was a Bulk Deal in Pitti Engineering Ltd of 102 crore where investor SBI Mutual Fund purchased 10,73,424 qty in the company at 950.
On 18th September, there were multiple Bulk Deals in Cohance Life Ltd.
On 18th September, there was a Bulk Deal in AWFIS Space Ltd of 29.00 crore where investor HDFC Mutual Fund purchased 5,00,000 qty in the company at 580.
On 19th September, there were multiple Bulk Deals in Energy InfraTrust Ltd.
On 19th September, there were multiple Bulk Deals in IndiGrid Trust Ltd.
On 19th September, there was a Bulk Deal in Sigachi Industries Ltd of 13.97 crore where investor Ishares Core Msci Emerging Markets Imi Index Etf purchased 31,85,477 qty in the company at 43.8.
On 19th September, there were multiple Bulk Deals in Landmark Cars Ltd.
On 19th September, there were multiple Bulk Deals in Aarti Pharmalabs Ltd.
How to use the AARD Deal Digest?
This is nothing but a filtering tool for an investor to find ideas to study.
The Digest will only tell you about companies where FIIs/ DIIs that I track have done Bulk Deal in.
You will need to do a second and third level of screening yourself.
As an investor, if you spend even 2-3 hours asking yourself these 20 questions about the companies in this newsletter rather than getting into a FOMO, I am sure you will learn a lot of things.
Is multi-year ROE/ROCE rising and consistent, including incremental ROCE on new capital?
Does management have unquestioned integrity, demonstrated by clear governance standards and absence of forensic red flags like accounting manipulation or promoter pledges?
Is the business a clear market leader with defensible entry barriers and sustainable competitive moats?
Is cash flow conversion high and sustainable—does the company generate consistent positive cash flow from core operations and strong OCF/PAT ratios?
What does the DuPont ROE Analysis say about the business?
Are sector and macro dynamics supportive—does the company operate in a space benefiting from value migration, reforms, digitization, consumer or any other tailwinds?
Is the company scaling up, showing signs of evolving with a visible runway for long-term compounding?
Is it a category winner or turnaround candidate? Are there triggers for value unlocking if currently distressed (sector recovery, new product/service launch, change in management, etc.)?
Has management demonstrated effective capital allocation, shareholder alignment, and a clear, sustainable growth strategy?
Are earnings and revenue consistently growing year after year, with robust growth in EPS and limited equity dilution?
Are gross profit margins stable or rising, and is the debt level manageable (low finance costs, high interest coverage)?
Are management and board interests aligned with minority shareholders?
Does the company maintain high standards of corporate governance, minimizing risks like fraud or questionable accounting?
Are products/services in steady demand—even during tougher macro cycles (COVID is a good look-back period)? Does the business have sector resilience?
Does the sector have persistent drivers like urbanization, financialization, or digital adoption?
Are unit economics robust, with evident pricing power and cost discipline?
Is net profit, revenue, and EPS growing, with minimal equity dilution?
How have recent quarterly earnings and commentary been—any surprises, management outlook, or structural shifts?
Has there been any significant change in senior management or a major product/service launch that may impact trajectory?
Does the company have a resilient and adaptable strategy for dealing with disruptive trends, regulatory changes, or macro shocks—demonstrated by quick pivots during crises or sector transitions?
Simply entering into a company because there is an institutional entry can be harmful to both your health and your portfolio.
Thank You for reading.
Written with a lot of ❤️ in India
Rgds,.
Ayush Agrawal | INH000013013
Disclaimer
All information is sourced from publicly available data, and while every effort has been made to ensure the accuracy and reliability of the information provided in these notes from the management meeting, Ayush Agarwal Research cannot guarantee that the information is complete or free from errors.
I, Ayush Agrawal, am registered with SEBI as an Individual Research Analyst under the registration number INH000013013, effective from September 14, 2023.
I do not offer any paid research services.
Opinions expressed regarding specific securities in AARD Deal Digest are not investment advice and shall not be treated as recommendations.
Neither I nor my associates/ employees shall not be liable for any losses incurred based on such opinions.
All matter displayed in this content is purely for Illustrative, Knowledge and Informational purpose and shall not be treated as advice or opinion of any kind.
The content presented should not be construed as investment advice.
I nor my employees/associates shall not be held liable/responsible in any manner whatsoever for any losses the readers may incur due to acting upon this content.
All information is taken from publicly available sources and data. I make no warranties or guarantees regarding the accuracy, completeness, or timeliness of the information provided, including data such as news, prices, and analysis.
We cannot guarantee the completeness or reliability of the information presented. Readers are encouraged to conduct their own research and consult with a professional advisor before making any investment decisions.
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