Quantum Exposure Basket
US-listed pure-plays (no India listing yet) — pre-profit, milestone-driven, trading at P/S 100-800. Extreme hindsight bias; treat as venture-risk public equity, not investable on fundamentals.
Point-in-time — grades are reviewed each cycle; every change publishes as a dated action. Snapshot 22 June 2026.
Sources: Basket methodology — in the sector dossier
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