Episode Details

In this episode of Trust Issues, we speak to Ayush Abhijeet, investment director at WhiteOak Capital Partners, the investment advisor to Ashoka India Equity (AIE).

Ayush talks us through the reasons why the Indian stock market has been going through a period of weakness, what catalysts could cause a recovery and why, despite the difficult backdrop, Indian companies remain committed to initial public offerings. Ayush also tells us how AIE's knowledge and expertise enables management to take advantage of this through pre-IPO investing.

00:00 Introduction

01:37 Why has India's stock market underperformance other emerging markets in recent months?

04:52 Who owns Indian equities and why is this dynamic important?

06:50 Why Indian households are diversifying away from gold and real estate and into stocks

09:04 Are you seeing value emerging in Indian markets?

11:53 How much does WhiteOak's experienced, on-the-ground team benefit AIE?

13:52 Why India's IPO market is thriving and how this benefits AIE

17:30 Potential drivers of a possibly powerful recovery in the Indian equity market

20:22 Why AIE is well-placed to capitalise on these drivers

22:25 How AIE focuses on economic cashflows to derive a company's valuation and compare relative valuations

24:14 Balancing high active share with diversification

27:27 Further information

27:51 Risk warning

Our latest note on AIE - https://www.trustintelligence.co.uk/investor/articles?fund_id=397

AIE website - https://www.ashokaindiaequity.com/

Please note that this podcast was recorded on 23 March 2026.