
The Tailwind by Windmill Capital Archives - smallcase

From a $119/bbl oil shock and a record-low rupee to governance tremors at HDFC Bank and India's first green hydrogen export contracts, we break down March's five defining stories. Read the full update.

War, oil, and your portfolio: what the Hormuz crisis means for Indian investors and how to stay the course.

India’s $22B IPO gold rush offers a 17.4% CAGR, but is the "alpha" real? We break down why new listings are the market’s high-stakes roller coaster.

Is the "AI panic" in Indian IT justified? We explore why experts see evolution, not extinction for TCS, Infosys, and Wipro.

Windmill Capital covers 5 major stories from 2025 along with other updates like rebalance, defence modernization & gold flipping 18Y narrative

A year in review of the ideas, questions, and frameworks that shaped our thinking on markets, behaviour, and investing in 2025.
