From Doctor to Box-Office Disruptor

Vishal Chaturvedi has turned a deeply personal spiritual story into one of 2026’s biggest box-office surprises. In an industry where films routinely arrive with star salaries running into crores, lavish sets and multi-crore marketing campaigns, Hanuman Ansh is a striking anomaly. Made on a shoestring budget reportedly in the region of Rs. 2 crore, the ‘spiritual’ film opened last month to a modest box-office collection. Within weeks, however, audiences began taking a shine to the film with...

min read

Vishal Chaturvedi has turned a deeply personal spiritual story into one of 2026’s biggest box-office surprises. In an industry where films routinely arrive with star salaries running into crores, lavish sets and multi-crore marketing campaigns, Hanuman Ansh is a striking anomaly. Made on a shoestring budget reportedly in the region of Rs. 2 crore, the ‘spiritual’ film opened last month to a modest box-office collection. Within weeks, however, audiences began taking a shine to the film with the phenomenal result that its domestic collections had surged past the Rs. 150 crore mark. Whatever the final tally, the fact that a film made for a fraction of the budgets of mainstream Bollywood productions has emerged as a major commercial success has raised eyebrows. The man responsible for this is Vishal Chaturvedi, a doctor-turned-filmmaker, writer and producer whose route to cinema has been anything but conventional. Chaturvedi was born and brought up in Lucknow and completed his MBBS from Gorakhpur in 2006. While posted in Haldwani that year, he visited Kainchi Dham. It was there that he encountered the teachings of Neem Karoli Baba, the spiritual figure whose life and philosophy would eventually become the foundation of his first feature film. For almost two decades, the thought of making a film around Neem Karoli Baba remained with Chaturvedi. His journey towards Hanuman Ansh itself reportedly took nearly 14 years. Along the way, he left medicine and even gave up music before committing himself fully to filmmaking. What might appear in retrospect as an overnight success was therefore anything but overnight. Hanuman Ansh tells the story of Lakshminarayan, who would later become Neem Karoli Baba. Following his mother’s death, the young Lakshman leaves home in search of God. His journey through forests, temples and villages becomes a gradual renunciation of worldly life and a movement towards spirituality. The film also incorporates episodes associated with Neem Karoli Baba, including the famous account of a British train being stopped after he was forced off it. But perhaps the most revealing part of Chaturvedi’s story is not what he put into the film, but what he deliberately kept out while writing it. He removed digital devices from his room and wrote the story entirely by hand. His assistants subsequently photographed the handwritten pages and converted them into digital form. He spent nearly 45 days writing the first scene alone. For Chaturvedi, however, the first scene was the foundation of the entire film. Once he had found it, the rest of the screenplay came together rapidly, taking another 15 to 20 days. Hanuman Ansh was the culmination of a personal conviction that had survived for nearly 20 years. Its success also raises a larger question about the changing economics of Indian cinema. The film is unlikely to signal the death of stars, spectacle or big budgets. Nor does every low-budget film with a strong idea automatically become a blockbuster. But Hanuman Ansh, alongside other recent successes such as Dhurandhar, points towards something increasingly important: content can create its own market when audiences feel they have discovered something worth talking about. The old model depended heavily on pre-release visibility. The new one increasingly depends on post-release conversation. A film need not necessarily dominate advertising if audiences themselves become its marketing department. That is particularly significant for films operating outside the traditional Bollywood template. Hanuman Ansh does not have the conventional ingredients of a commercial blockbuster. Its subject is spiritual, its central character is not a contemporary superstar and its budget was tiny by industry standards. Yet its audience appears to have expanded precisely because it offered something different. Today, audiences are becoming less willing to accept that the size of a film’s budget determines its value. They can reject an expensive production and embrace a modest one if the latter connects emotionally, culturally or spiritually. For Chaturvedi, the irony is striking. A man who walked away from medicine to pursue filmmaking spent years chasing a story that the mainstream industry apparently did not rush to embrace. That makes Hanuman Ansh’s success more than a box-office curiosity. It is a reminder that while budgets and big-name stars may buy scale and draw attention, the belief among audiences that a particular film is telling a solid story and hence must be seen is priceless. Chaturvedi appears to have spent years building his belief around one story. Judging by the box office receipts, the audience, too, seems to have bought into it.

Strong India, Cautious Investor

C.S. Krishnamurthy

1 day ago

3 min read

The Indian economy appears stronger than the nervousness visible in the stock market might suggest. Corporate earnings are improving, domestic demand remains reasonably resilient and several sectors are reporting healthy growth. Yet investors are facing an unusual mix of risks: crude oil is moving towards $100 a barrel, global bond yields are rising, foreign investors have turned sellers again and parts of the Indian market remain expensive.

That leads to a simple investment message: India's growth story remains intact, but investors should not mistake a strong economy for a risk-free stock market.

The latest corporate results offer considerable comfort. The economic momentum built over the past few quarters has not been derailed by geopolitical tensions. The margin pressure feared across several industries has also been less severe than expected.

More importantly, earnings growth has been reasonably broad based. Large, mid and small companies have all shown healthy growth. If oil-related businesses, which are somewhat different in their earnings pattern, are excluded, the gap between the three market segments is not particularly wide.

Financial services have been among the strongest performers, with banks, NBFCs and capital-market businesses reporting good growth. Capital goods, metals, telecom and power have also done well.

For investors, this is significant. A stock market supported by genuine improvement in corporate profits has a much stronger foundation than one driven merely by enthusiasm.

Domestic Risk

The monsoon, however, remains an important domestic risk. Rainfall has been below normal so far, although the impact on the rural economy has not yet been alarming. Tractor and two-wheeler sales remain reasonably strong, suggesting that parts of rural India continue to spend.

At the same time, increased demand under the rural employment guarantee programme suggests that weaker rainfall may be affecting poorer rural households more severely.

Food inflation adds another complication. Higher food prices may improve the income of farmers who sell their produce, but they also increase the expenses of families who buy food. Therefore, higher food inflation cannot automatically be interpreted as stronger rural purchasing power. India is nevertheless better prepared than it once was.

A healthy IPO market is a positive development. It allows companies to raise capital and gives investors fresh opportunities. But there is a point at which too much supply begins competing for the same pool of money.

The current market provides a striking example. The much-awaited IPO of the National Stock Exchange is reportedly being considered at a size of around Rs. 24,000 to Rs. 25,000 crore, down from earlier expectations of Rs. 30,000 crore but a very large issue nonetheless.

The message is not that investors should avoid IPOs. It is that an exciting new issue should not automatically be preferred over an established company merely because the new issue is attracting headlines.

The bigger uncertainties are global. Brent crude has moved close to $100 a barrel as tensions in the Middle East have intensified. For India, which imports most of its energy requirements, expensive crude can mean higher inflation, a wider trade deficit and pressure on economic growth.

US bond yields are another concern. Higher yields make dollar investments more attractive and can reduce the appetite for emerging markets such as India.

This does not necessarily mean that global investors have abandoned India. It shows how quickly investment decisions can change when oil prices, interest rates and currencies move.

Domestic investors, particularly mutual fund investors, therefore have an important role in providing stability. Their regular investments can partly offset foreign selling, although domestic flows cannot make the market immune to global shocks.

Faster Growth

The enthusiasm for small and mid-cap stocks is understandable. Many of these companies offer faster growth and have rewarded investors handsomely.

But if investors pay too much for expected growth, even a good company's share price can disappoint. Large-cap companies, after a period of relative underperformance, may offer more comfortable valuations and greater stability.

The right mix will depend on an investor’s financial goals, investment horizon and ability to withstand market fluctuations.

India’s economic story remains encouraging. Corporate earnings are healthy, domestic demand has resilience and the economy has become better equipped to absorb individual shocks.

But the stock market is not the economy. For the common investor, therefore, the most useful question today may not be, “What should I buy?” It may be, “Is my portfolio balanced enough to withstand what I cannot predict?”

(The writer is a retired banker and author. He can be reached at krs1957@hotmail.com. Views personal.)

From Doctor to Box-Office Disruptor

Strong India, Cautious Investor

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