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About RaSa Capital

A research and education brand from India, built in public by Achintay Singh.

The founder

Achintay Singh

I grew up around our family petrol pump, watching cash come in one litre at a time. That taught me something most market commentary skips: real businesses compound slowly, and the people who win are the ones who stay in their seat.

My long-term goal is to build a SEBI-registered investment firm. RaSa Capital is where it starts: in the open, one piece of research at a time.

  • First investmentFifty shares of Reliance IndustriesA gift from my maternal uncle, who first taught me how investing works. He still reviews my research diary.
  • Family businessDigital accounts for our petrol pumpReplacing paper registers with a structured Excel system.
  • ResearchFuel price volatility and Indian CPIA quantitative study of how pump prices move consumer inflation.
  • BuildingWebsite for MAP EnterprisesFor my mamu's mutual fund distribution business in Patna.
  • WritingOCTANE and The Arithmetic of PatienceTwo books in progress.
The mentor behind RaSa

Madhukar Anand

Founder, MAP Enterprises · Patna

Every investor has someone who first opened the door. For me, it was my mamu.

He has spent more than twenty years in the Indian stock market, and runs MAP Enterprises, an AMFI-registered mutual fund distributor in Patna. He helped me buy my first fifty shares of Reliance Industries. He did not tell me what to think. He showed me how to read a business, why patience matters more than tips, and why every investment decision should be written down.

The research diary behind this website started on his advice, and he still reads it. RaSa Capital is my own project, but a large part of how I think about money comes from him.

20+years in Indian markets
AMFIregistered mutual fund distributor
Patnaserving families in Bihar

MAP Enterprises and RaSa Capital are separate. RaSa Capital does not sell or distribute any financial product.

Process

How I study a business

Every company goes through the same four questions, in this order. If it fails one, I stop and mark it dropped.

01

The business

What does it sell, who pays, and why would they keep paying in ten years?

02

The numbers

Revenue, margins, debt and cash flow over many years, from the annual reports.

03

The price

What the market already expects, and whether the business can beat it.

04

The patience

A written thesis, a review date, and the discipline to leave it alone.

Questions

Straight answers

Is RaSa Capital a fund?

Not yet. RaSa Capital does not manage money, take deposits or offer any investment product. It is a research and education brand. A registered fund is the long-term goal and will only happen with full SEBI registration.

Are the journal entries stock tips?

No. The journal records which companies I am studying and what I learned. It never says buy, sell or hold and never gives price targets.

How often is the journal updated?

Most days. Each entry is one company and a short note on what I studied.

Where does the market data come from?

Google Finance. Prices can be delayed by up to 20 minutes and are shown for reference only.

The Weekly Letter

One company. One lesson. Every week.

The company I studied, what surprised me, and one idea you can use with your own money. Free.