Moonfire's report is not just a specialization of a more general report, because this P&L logic fails in emerging markets.
The realization of gains depends on specific contexts; a general report based on mature markets does not account for Indian specifics, for example.
If a previous study focused on developed markets and the new one targets India, the risk and return dynamics are radically different due to capital flows and local regulations.
To realize profits, one must consider local market conditions, such as the role of SEBI or RBI in India, rather than a vague hierarchy.