Nirgunan Tiruchelvam

Tellimer Research

Head of Consumers Equity Research @ Tellimer Research

Nirgunan is Head of Consumer Sector Equity Research, based in Dubai. He has a strong thematic perspective on the consumer sector across FM and EM, built on the foundations of his experience and network in ASEAN. He previously served in equities leadership and consumer/commodities equity research roles in ASEAN at BTIG, Standard Chartered and RBS/ABN Amro Asia.

Nirgunan Tiruchelvam
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Latest articles from Nirgunan Tiruchelvam

Grab Holdings: Five factors that the market is missing

Grab has lost almost a third of its value since listing on 2 December 2021. This precipitous fall is way in excess of the Nasdaq decline over the same period. Early investors may have been taking profits. The free float has increased from 15% to 40%....
Tellimer Research Nirgunan
Nirgunan Tiruchelvam @ Tellimer Research 18 January 2022
Grab Holdings: Five factors that the market is missing
Grab Holdings: Five factors that the market is missing

10 best Emerging Market tech stocks in 2021

Angel One, previously known as Angel Broking, is a digital investment services company offering stock trading, advisory services, margin funding, mutual fund investments, etc., Momo dominates online shopping in Taiwan and has emerged as one of the le...
Tellimer Research Nirgunan
Nirgunan Tiruchelvam @ Tellimer Research 17 January 2022
10 best Emerging Market tech stocks in 2021
10 best Emerging Market tech stocks in 2021
Flash Report / Singapore

Sea will rise again despite recent rout; reiterate Buy

Sea Ltd has lost 45% of its value since 19 October 2021 (when it was trading at all-time highs) – by comparison, the Nasdaq has been flat in this period and the MSCI Emerging Markets Information Technology Index is up 8%. The block sale was at a c7% ...
Tellimer Research Nirgunan
Nirgunan Tiruchelvam @ Tellimer Research 13 January 2022
Sea will rise again despite recent rout; reiterate Buy
Sea will rise again despite recent rout; reiterate Buy

The 5 top-performing EM e-commerce firms of 2021

Momo.com dominates online shopping in Taiwan and has emerged as one of the leading e-commerce firms outside the US and China. It is the country's leading search portal. Its market share in South Korean e-commerce is 19% and the company now plans to b...
Tellimer Research Nirgunan
Nirgunan Tiruchelvam @ Tellimer Research 12 January 2022
The 5 top-performing EM e-commerce firms of 2021
The 5 top-performing EM e-commerce firms of 2021

5 Emerging Markets tech winners for 2022

2021 saw a 27% rise in the S&P500 and the tech-heavy NASDAQ rose 21%. The China crackdown sent shivers down the spines of investors and had a negative impact on the overall tech sector, especially EM. Although our Food Delivery Index has rallied (mai...
Tellimer Research Nirgunan
Nirgunan Tiruchelvam @ Tellimer Research 7 January 2022
5 Emerging Markets tech winners for 2022
5 Emerging Markets tech winners for 2022

Jumia: Black Friday performance brightens outlook

We reiterate our Buy recommendation for Jumia Technologies, with our new target price of US$20 (previously US$28) suggesting 142% upside. The site managed to attract a record 40mn unique visitors, up 27% yoy. This performance is an encouraging sign f...
Tellimer Research Nirgunan
Nirgunan Tiruchelvam @ Tellimer Research 22 December 2021
Jumia: Black Friday performance brightens outlook
Jumia: Black Friday performance brightens outlook

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