Market & Forensics Analyst, Beat the Street

Nimish Maheshwari

Market & Forensics Analyst

Beat the Street

Beat The Street was founded by Nimish Maheshwari and Sudarshan Bhandari, both of whom are Chartered Accountants by Profession, known for their expert analysis in the fields of Business, Sectoral analysis, and Corporate governance.

With a strong social media presence of 45,000+ Subscribers across various platforms, they are considered trusted voices in the industry. Their insights and analysis have been featured in some of India’s most prominent publications, including the Economic Times, Dalal Street Investment Journal, The Morning Context, and The Ken.

Their analysis on Bankrupt & Insolvent companies has been instrumental in saving investors from significant losses. They have a keen eye for identifying red flags and has identified exclusive redflags earlier in Vedanta, Nykaa, Dhani Services, Adani and many more.

Read Business Not Stock Prices

Forensic Accounting

<ul>
<li>Indusind Bank (IIB IN) , one of India’s prominent private-sector banks, recently disclosed a significant accounting discrepancy related to its derivatives portfolio.</li>
<li>The estimated adverse impact of these lapses is INR 1,959 crore (~2.27% of the bank's net worth), which will be accounted for in Q4FY25, likely resulting in a net loss.</li>
<li>The resignations of the CEO and Deputy CEO raise concerns on potential unidentified issues, including regulatory scrutiny, other accounting lapses and potential slowdown in business post top management rejig.</li>
</ul>


Indusind Bank (IIB IN) , one of India’s prominent private-sector banks, recently disclosed a significant accounting discrepancy related to its derivatives portfolio.
The estimated adverse impact of these lapses is INR 1,959 crore (~2.27% of the bank's net worth), which will be accounted for in Q4FY25, likely resulting in a net loss.
The resignations of the CEO and Deputy CEO raise concerns on potential unidentified issues, including regulatory scrutiny, other accounting lapses and potential slowdown in business post top management rejig.


Indusind Bank: KMP Resignations Amid Derivative Discrepancy Flags Strategic Concerns

Asia Pac IPO & Placement Research, China biotech, Aequitas Research

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Quantitative Analysis

<ul>
<li>We analysed the earning revision of component stocks of NIFTY in the past month.</li>
<li>We tabulated stocks with the top impact on index's EPS, stocks' EPS revision, and revenue revision.</li>
<li>We highlighted EPS revision on Adani Enterprises, State Bank of India, Hero MotoCorp, Eternal, InterGlobe Aviation, IndusInd Bank, Max Healthcare Institute, Interglobe Aviation, State Bank Of India, Max Healthcare Institute.</li>
</ul>


We analysed the earning revision of component stocks of NIFTY in the past month.
We tabulated stocks with the top impact on index's EPS, stocks' EPS revision, and revenue revision.
We highlighted EPS revision on Adani Enterprises, State Bank of India, Hero MotoCorp, Eternal, InterGlobe Aviation, IndusInd Bank, Max Healthcare Institute, Interglobe Aviation, State Bank Of India, Max Healthcare Institute.


NIFTY Index Earning Revision (Sep): Adani Enterprises, State Bank of India, Hero MotoCorp, Eternal

Derivatives and Quantitative Strategist

Gaudenz Schneider

Equity Derivatives

<ul>
<li>
Context:<a href="https://www.smartkarma.com/entities/hdfc-bank-ltd-4b6b7a92-9087-468d-9dbe-ab169e77f014" target="_blank" data-smartkarma-citation="entities:558:1" rel="noopener">HDFC Bank (HDFCB IN)</a> remains in a bullish setup. Quantitative models highlight further upside potential in the near term and identify key support levels.</li>
<li>
Trade Idea: With implied volatility near multi-year lows (12th percentile), long call strategies are favored. Suitable expiries and strikes are outlined, with an alternative structure discussed for reducing premium outlay.</li>
<li>
Why Read: This Insight combines directional analysis with volatility signals, highlighting a tactical options strategy where low implied volatility and bullish probabilities align, offering investors defined risk/reward.</li>
</ul>



Context:HDFC Bank (HDFCB IN) remains in a bullish setup. Quantitative models highlight further upside potential in the near term and identify key support levels.

Trade Idea: With implied volatility near multi-year lows (12th percentile), long call strategies are favored. Suitable expiries and strikes are outlined, with an alternative structure discussed for reducing premium outlay.

Why Read: This Insight combines directional analysis with volatility signals, highlighting a tactical options strategy where low implied volatility and bullish probabilities align, offering investors defined risk/reward.


HDFC Bank (HDFCB IN): Ready for the Rally with Tactical Low-Cost Options

<ul>
<li>September brings heavy index rebalancing activity. <a href="https://www.smartkarma.com/entities/pop-mart-international-group-l" target="_blank" data-smartkarma-citation="entities:29016:1" rel="noopener">Pop Mart (9992 HK)</a> will join both the <a href="https://www.smartkarma.com/entities/hong-kong-hang-seng-index" target="_blank" data-smartkarma-citation="entities:22899:1" rel="noopener">Hang Seng Index (HSI INDEX)</a> and the <a href="https://www.smartkarma.com/entities/hang-seng-china-enterprises-index" target="_blank" data-smartkarma-citation="entities:22900:1" rel="noopener">Hang Seng China Enterprises Index (HSCEI INDEX)</a>.</li>
<li>
The Fed is widely expected to cut rates and Asia-Pac peers (BoJ, RBA, RBI) are also meeting.</li>
<li>
Why Read: Plan ahead and take into account known market events when making investment and trading decision.</li>
</ul>


September brings heavy index rebalancing activity. Pop Mart (9992 HK) will join both the Hang Seng Index (HSI INDEX) and the Hang Seng China Enterprises Index (HSCEI INDEX).

The Fed is widely expected to cut rates and Asia-Pac peers (BoJ, RBA, RBI) are also meeting.

Why Read: Plan ahead and take into account known market events when making investment and trading decision.


Index Changes and Rate Cuts: Key Events in September 2025

APAC IPOs & Placements, Aequitas Research

Akshat Shah

APAC IPOs & Placements

Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/vikram-solar" target="_blank" data-smartkarma-citation="entities:36670:1" rel="noopener">Vikram Solar (0490158D IN)</a> raised about US$238m in its India IPO.</li>
<li>Vikram Solar is an integrated solar photo-voltaic modules producer and an integrated solar energy solutions provider offering engineering, procurement and construction services, and operations and maintenance services to its customers.</li>
<li>We have looked at the company’s past performance and valuations in our previous notes. In this note, we will talk about the trading dynamics.</li>
</ul>



Vikram Solar (0490158D IN) raised about US$238m in its India IPO.
Vikram Solar is an integrated solar photo-voltaic modules producer and an integrated solar energy solutions provider offering engineering, procurement and construction services, and operations and maintenance services to its customers.
We have looked at the company’s past performance and valuations in our previous notes. In this note, we will talk about the trading dynamics.


Vikram Solar IPO Trading - Robust Insti-Led Demand; Decent Anchor

India

IndusInd Bank Limited is a Mumbai-based Indian new generation bank established in 1994. The Bank provides a range of banking and financial services including  wholesale banking, credit monitoring, risk management, tele-banking, investment banking and commercial lending. IndusInd Bank operates branches throughout India as well as an office in Dubai and London.

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Indusind Bank (IIB IN)

Indusind Bank: KMP Resignations Amid Derivative Discrepancy Flags Strategic Concerns

Indusind Bank discloses accounting discrepancy in derivatives portfolio, estimating INR 1,959 crore impact, CEO and Deputy CEO resignations raise...

Nimish Maheshwari

NIFTY Index Earning Revision (Sep): Adani Enterprises, State Bank of India, Hero MotoCorp, Eternal

We analyzed NIFTY's consensus for Sep 2025 and highlighted changes of EPS in Adani Enterprises (ADE/S IN), State Bank of India (SBIN IN), Hero...

Ke Yan, CFA, FRM

HDFC Bank (HDFCB IN): Ready for the Rally with Tactical Low-Cost Options

A bullish technical setup for HDFC Bank offers potential upside, with long call option strategies favored amid historically low implied volatility.

Gaudenz Schneider

Index Changes and Rate Cuts: Key Events in September 2025

September packs in index rebalances, quarterly expiries, central bank calls, and Fed drama—keeping markets busy amid a light holiday calendar.

Gaudenz Schneider

Vikram Solar IPO Trading - Robust Insti-Led Demand; Decent Anchor

Vikram Solar raised about US$238m in its India IPO. In this note, we will talk about the demand and the trading dynamics.

Akshat Shah

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Indusind Bank: KMP Resignations Amid Derivative Discrepancy Flags Strategic Concerns

​Indusind Bank discloses accounting discrepancy in derivatives portfolio, estimating INR 1,959 crore impact, CEO and Deputy CEO resignations raise...

Nimish Maheshwari

NIFTY Index Earning Revision (Sep): Adani Enterprises, State Bank of India, Hero MotoCorp, Eternal

We analyzed NIFTY's consensus for Sep 2025 and highlighted changes of EPS in Adani Enterprises (ADE/S IN), State Bank of India (SBIN IN), Hero...

Ke Yan, CFA, FRM

HDFC Bank (HDFCB IN): Ready for the Rally with Tactical Low-Cost Options

A bullish technical setup for HDFC Bank offers potential upside, with long call option strategies favored amid historically low implied volatility.

Gaudenz Schneider

Index Changes and Rate Cuts: Key Events in September 2025

September packs in index rebalances, quarterly expiries, central bank calls, and Fed drama—keeping markets busy amid a light holiday calendar.

Gaudenz Schneider

Vikram Solar IPO Trading - Robust Insti-Led Demand; Decent Anchor

Vikram Solar raised about US$238m in its India IPO. In this note, we will talk about the demand and the trading dynamics.

Akshat Shah

Indusind Bank discloses accounting discrepancy in derivatives portfolio, estimating INR 1,959 crore impact, CEO and Deputy CEO resignations raise...