Vikas Khemani, the founder of Carnelian Asset Management, highlighted that there is a shift in market share dynamics across various sectors, despite overall strong consumption.

He mentioned that certain industries like real estate and cable services are thriving, while others like tile manufacturing are experiencing stagnant sales. This suggests that unorganized players are gaining market share, a trend that established companies may not openly acknowledge.

Khemani also discussed the state of corporate capital expenditure, stating that it is not declining. He pointed out that traditional indicators of the capex cycle, such as bank credit growth to corporates, have shown a slowdown, but this does not necessarily indicate a broader downturn in capital investment. His insights encourage a more in-depth analysis of market trends rather than relying solely on conventional narratives.