Independent equity research · Indian markets & REITs
Evidence over narrative.
Arthaay publishes transparent, data-first research on Indian equities and REITs — with every position, every number, and every methodology documented in the open.
Every decision is documented before outcomes are known.
Every 1st & 15th, free forever • No tips or predictions
Get the Public Ledger & Research Notes — Free, Twice a Month
Transparent portfolio decisions + full research. No tips. No spam.
Subscribe Free →For educational purposes only. Not investment advice. Read our full Disclaimer.
The Public Ledger
Don't just read about investing. Follow it unfold.
Follow a real portfolio as I build it. Examine the decisions, transactions, dividends and performance against market benchmarks. Learn from what works, what doesn't, and what the journey reveals along the way.
- FollowA real portfolio, documented as it grows.
- ExamineThe transactions, dividends and decisions I disclose.
- VerifyResults measured against market benchmarks over matching periods.
- LearnFrom successes, mistakes and changing evidence.
Alongside the ledger, Research Notes look closely at individual businesses, their risks and the reasoning behind the analysis. A company discussed in a Research Note is not necessarily held in the portfolio.
New issues, published on the 1st and 15th of every month, will always be free to read.
A record to examine, not advice to follow. Educational and informational only. Read the disclaimer.
Real Portfolio, Real Numbers
₹77,907.07
Current portfolio value
7
Holdings
₹-413.18
Unrealised Gain
30/10/2026
Last Updated
Latest Content
The Public Ledger · Issue 4
The Public Ledger — Issue 04
Monthly Portfolio Update — holdings, transactions, performance, and benchmarking for September 2026.
01/10/2026
Read the Ledger →Research Note · Issue 4
The Hidden Company Inside Your Electronic Devices
Amber Enterprises is building a multi-billion-crore empire behind the brands you buy. But can this invisible manufacturing giant actually deliver for investors?
15/10/2026
Read the Note →The Process
01
Every decision documented before the outcome
02
Full portfolio always public
03
Mistakes remain in the record
1st of every month
The Public Ledger
A full, transparent record of current holdings, changes made, and the reasoning behind them.
15th of every month
Research Note
Deep, evidence-based coverage of a single company or REIT — thesis, risks, and valuation laid out in full.
What We Believe
Business performance is the primary driver of investment outcomes over the long term.
Valuation sets the boundaries of a reasonable outcome — it does not predict the outcome itself.
Intellectual honesty matters more than being right on any single investment.
Why Arthaay Exists
Investing doesn't suffer from a lack of information — it suffers from a lack of transparency.
Few creators publicly show their own portfolios, document every decision as they make it, or maintain a long-term record a reader can go back and verify. Arthaay exists to change that — every month adds to a public record that doesn't get quietly edited when a call goes wrong.
Not stock tips. Not predictions. Not hype.
- Documented process — every decision has a written thesis behind it.
- A framework, not a tip — reasoning you can apply elsewhere.
- A public record — holdings and history, not a highlight reel.
- Full transparency — the portfolio is visible to everyone, always.
- A long-term lens — built for years of compounding, not this week's headline.
Who Arthaay Is For
- Prefer evidence over market hype.
- Want to become better long-term investors, not better traders.
- Value transparency and accountability over confident predictions.
- Enjoy understanding a business, not just its stock price.
- Want to learn alongside a real investing journey, mistakes included.