Omaha · The Nifty 50 Book private drafts — Buffett & Munger lens

The Nifty 50, one business at a time

50 of 50 reports written · long-term moat analysis in plain language · raw material for the book

Automobile and Auto Components

Bajaj Auto Ltd.BAJAJ-AUTOmoat: narrow Eicher Motors Ltd.EICHERMOTmoat: wide Mahindra & Mahindra Ltd.M&Mmoat: narrow Maruti Suzuki India Ltd.MARUTImoat: narrow Tata Motors Passenger Vehicles Ltd.TMPVmoat: none

Capital Goods

Bharat Electronics Ltd.BELmoat: wide

Construction

Larsen & Toubro Ltd.LTmoat: narrow

Construction Materials

Grasim Industries Ltd.GRASIMmoat: narrow UltraTech Cement Ltd.ULTRACEMCOmoat: narrow

Consumer Durables

Asian Paints Ltd.ASIANPAINTmoat: narrow Titan Company Ltd.TITANmoat: wide

Consumer Services

Eternal Ltd.ETERNALmoat: narrow Trent Ltd.TRENTmoat: narrow

Fast Moving Consumer Goods

Hindustan Unilever Ltd.HINDUNILVRmoat: wide ITC Ltd.ITCmoat: wide Nestle India Ltd.NESTLEINDmoat: wide Tata Consumer Products Ltd.TATACONSUMmoat: narrow

Financial Services

Axis Bank Ltd.AXISBANKmoat: narrow Bajaj Finance Ltd.BAJFINANCEmoat: narrow Bajaj Finserv Ltd.BAJAJFINSVmoat: narrow HDFC Bank Ltd.HDFCBANKmoat: wide HDFC Life Insurance Company Ltd.HDFCLIFEmoat: narrow ICICI Bank Ltd.ICICIBANKmoat: wide Jio Financial Services Ltd.JIOFINmoat: none Kotak Mahindra Bank Ltd.KOTAKBANKmoat: narrow SBI Life Insurance Company Ltd.SBILIFEmoat: narrow Shriram Finance Ltd.SHRIRAMFINmoat: narrow State Bank of IndiaSBINmoat: narrow

Healthcare

Apollo Hospitals Enterprise Ltd.APOLLOHOSPmoat: narrow Cipla Ltd.CIPLAmoat: narrow Dr. Reddy's Laboratories Ltd.DRREDDYmoat: none Max Healthcare Institute Ltd.MAXHEALTHmoat: narrow Sun Pharmaceutical Industries Ltd.SUNPHARMAmoat: narrow

Information Technology

HCL Technologies Ltd.HCLTECHmoat: narrow Infosys Ltd.INFYmoat: wide Tata Consultancy Services Ltd.TCSmoat: wide Tech Mahindra Ltd.TECHMmoat: narrow Wipro Ltd.WIPROmoat: narrow

Metals & Mining

Adani Enterprises Ltd.ADANIENTmoat: none Hindalco Industries Ltd.HINDALCOmoat: narrow JSW Steel Ltd.JSWSTEELmoat: none Tata Steel Ltd.TATASTEELmoat: narrow

Oil Gas & Consumable Fuels

Coal India Ltd.COALINDIAmoat: narrow Oil & Natural Gas Corporation Ltd.ONGCmoat: narrow Reliance Industries Ltd.RELIANCEmoat: narrow

Power

NTPC Ltd.NTPCmoat: narrow Power Grid Corporation of India Ltd.POWERGRIDmoat: wide

Services

Adani Ports and Special Economic Zone Ltd.ADANIPORTSmoat: wide InterGlobe Aviation Ltd.INDIGOmoat: narrow

Telecommunication

Bharti Airtel Ltd.BHARTIARTLmoat: narrow