Snapshots That Wow!

Chandi jaisa rang hai tera, sone jaise baal (rays)

While solar manufacturers are reducing silver usage per cell and increasingly substituting other metals. But the sheer scale of global solar expansion is still a major structural driver of silver demand.

Solar used 19% less silver this year. Yet the deficit in the metal widened to 46.3mn ounces. Sixth year in a row.

Source: Bloomberg

The pal with the money!

Manipal acquired Columbia Asia in April 2021 at 1.6cr per bed, AMRI Hospitals at 2.3cr a bed in September 2023. Temasek acquired their stake in Manipal valuing it then (September 2023) at 4.6cr a bed. Manipal has then acquired Sahyadri Hospitals in July 2025 at 4.1cr a bed. Manipal itself is valued at over 7cr a bed today.

Source: exencial_RP

Yeh udaan ab mehngi hai, asuvidha ke liye khed hai

“Domestic and outbound passenger traffic is down 5% and 4% YoY QTD, versus 2% growth and 10% decline respectively in 1Q. This could put consensus air volume growth of 1% in 2Q at risk. Elevated fares indicated by 20-22% YoY increase in ATVs in 1QFY27 at MMYT/Ixigo could affect affordability”

Source: Ambit

Nolan’s Trojan Horse to replace theatres with the IMAX experience!

““When The Odyssey opened in the summer of 2026, it did so to sold-out shows worldwide for months, with people traveling cross-country or even cross-continent to reach one of these rare theaters.For most people, the choice had been between going to the cinema or waiting to watch at home. Now there's suddenly a third option, and it's made a regular cinema showing feel like the weakest of the three.”

Source: Quartr

Mining iron is so 1980s, mine data instead

Tech is now officially more capital-intensive than mining. Historically whenever competition forces higher capital intensity in an industry, return ratios converge towards the cost of capital for that industry.

Source: Azuria Capital

Care for thy t’wacha!

On a per capita basis, Indonesians uses 64x the hair masks vs. Indians, 17x more suncare products, 16x more bodywash and 7x more dishwash liquid!

Source: HUL Capital Markets Day Presentation 2026