Information Technology Consultant

Ishita Jain

Thematic (Sector/Industry)

In 2013, Xi Jinping launched the One Belt One Road (OBOR) initiative. The aim of the initiative was to connect major Eurasian economies through infrastructure, trade and investment. At the heart of OBOR lay the creation of a 'belt' and a 'road'. Given the scope and geographical spread of the initiative, many expected OBOR to contribute to the regional economies, spur overseas infrastructure spending by China and encourage regional cooperation. As we review OBOR's progress three years since its launch, we'll look at a few OBOR success stories and the risks that still mar the initiative.

In 2013, Xi Jinping launched the One Belt One Road (OBOR) initiative. The aim of the initiative was to connect major Eurasian economies through infrastructure, trade and investment. At the heart of OBOR lay the creation of a 'belt' and a 'road'. Given the scope and geographical spread of the initiative, many expected OBOR to contribute to the regional economies, spur overseas infrastructure spending by China and encourage regional cooperation. As we review OBOR's progress three years since its launch, we'll look at a few OBOR success stories and the risks that still mar the initiative. 

India Equity Analyst - Fundamental & Thematic, Beat the Street

Sudarshan Bhandari

India Equity Analyst - Fundamental & Thematic

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

Equity Bottom-Up

<ul>
<li>The Supreme Court on 6-Apr-26 stayed the NCLT's March 17 order approving Adani Enterprises' INR 15,343 crore resolution plan for insolvent Jaiprakash Associates Ltd.</li>
<li>The stay places INR 57,000 crore in admitted claims, 4,000 acres of NCR land, India's only F1 circuit, and thousands of stalled homebuyer deliveries in a state of renewed uncertainty. </li>
<li>The April 10 NCLAT listing, the next Supreme Court hearing, will decide whether Adani or Vedanta will take over this group. </li>
</ul>


The Supreme Court on 6-Apr-26 stayed the NCLT's March 17 order approving Adani Enterprises' INR 15,343 crore resolution plan for insolvent Jaiprakash Associates Ltd.
The stay places INR 57,000 crore in admitted claims, 4,000 acres of NCR land, India's only F1 circuit, and thousands of stalled homebuyer deliveries in a state of renewed uncertainty. 
The April 10 NCLAT listing, the next Supreme Court hearing, will decide whether Adani or Vedanta will take over this group. 


The Jaiprakash Associates Story: From Ambition to Insolvency to Adani & Now a Supreme Court Freeze

On Feb 13th, 2016, "Make in India" week was flagged off in Mumbai. 5000 delegates from 190 companies based in 60 countries participated in the event and it was nothing short of a carnival celebrating the prospects of a brighter future for India’s manufacturing industry. This was the first of many events planned for Narendra Modi's flagship Make in India campaign launched in 2014. The initiative hopes to attract capital and technological investment to India and make it the top destination globally for foreign direct investment. Make in India is an exciting venture. In the following insight, I have given an overview of the initiative and stated some of the good things and some of the gaps around it. I am going to present more analysis as I discover more in the coming few days. Look out for the forks!

On Feb 13th, 2016, "Make in India" week was flagged off in Mumbai. 5000 delegates from 190 companies based in 60 countries participated in the event and it was nothing short of a carnival celebrating the prospects of a brighter future for India’s manufacturing industry. This was the first of many events planned for Narendra Modi's flagship Make in India campaign launched in 2014. The initiative hopes to attract capital and technological investment to India and make it the top destination globally for foreign direct investment. Make in India is an exciting venture. In the following insight, I have given an overview of the initiative and stated some of the good things and some of the gaps around it. I am going to present more analysis as I discover more in the coming few days. Look out for the forks!

<ul>
<li>GoodLuck India's subsidiary, Goodluck Defence &amp; Aerospace, successfully dispatched its First Overseas Defence Order of USD 6 million for 155mm Heavy-Calibre Empty Shells 
</li>
<li>Not a one-off contract win. Validates multi-year, capital-intensive pivot by an engineering conglomerate, backed by a dedicated 500 Crore Capex Commitment &amp; aspirations of 1,000 Crore in Defence Revenues 
</li>
<li>With a Traditional Steel Business delivering steady Volume Growth and two High-Margin New Engines:Hydraulic Tubes and Defence Shells, GoodLuck India is entering Inflection Phase with Super Margins 
</li>
</ul>


GoodLuck India's subsidiary, Goodluck Defence &amp; Aerospace, successfully dispatched its First Overseas Defence Order of USD 6 million for 155mm Heavy-Calibre Empty Shells 

Not a one-off contract win. Validates multi-year, capital-intensive pivot by an engineering conglomerate, backed by a dedicated 500 Crore Capex Commitment &amp; aspirations of 1,000 Crore in Defence Revenues 

With a Traditional Steel Business delivering steady Volume Growth and two High-Margin New Engines:Hydraulic Tubes and Defence Shells, GoodLuck India is entering Inflection Phase with Super Margins 



The Beat Ideas: GoodLuck India- A Steel Suppliers' Pivot into Defence & Aerospace

APAC IPOs & Placements, Aequitas Research

Akshat Shah

APAC IPOs & Placements

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.

Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/wework-india-management-ltd" target="_blank" data-smartkarma-citation="entities:44329:1" rel="noopener">WeWork India Management (WEWORK IN)</a> raised around US$338m in its IPO in Oct 2025. The lockup on its promoter and pre-IPO investors is set to expire soon.</li>
<li>WeWork India (WWI) offers a wide range of workspace solutions, including custom-designed buildings, floors, and offices; enterprise office suites; private offices; co-working spaces; customized managed offices; and hybrid digital solutions.</li>
<li>In this note, we will talk about the lockup dynamics and possible placement.</li>
</ul>



WeWork India Management (WEWORK IN) raised around US$338m in its IPO in Oct 2025. The lockup on its promoter and pre-IPO investors is set to expire soon.
WeWork India (WWI) offers a wide range of workspace solutions, including custom-designed buildings, floors, and offices; enterprise office suites; private offices; co-working spaces; customized managed offices; and hybrid digital solutions.
In this note, we will talk about the lockup dynamics and possible placement.


Aequitas: WeWork India IPO Lockup Expiry-Shares Have Traded Down but WeWork Global Well in The Money

India

Adani Enterprises is an Indian multinational publicly listed holding company and the flagship entity of the Adani Group. It acts as an incubator for new businesses in core sectors such as energy, logistics, and mining, which are often transitioned into independent listed entities. The company's current portfolio includes interests in airports, roads, solar manufacturing, green hydrogen, and data centers. Adani Enterprises is headquartered in Ahmedabad, India, and was founded on March 2, 1993.

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Adani Enterprises (ADE IN)

One Belt One Road - Three Years On

In 2013, Xi Jinping launched the One Belt One Road (OBOR) initiative. The aim of the initiative was to connect major Eurasian economies through...

Ishita Jain

The Jaiprakash Associates Story: From Ambition to Insolvency to Adani & Now a Supreme Court Freeze

On April 6, 2026, the Supreme Court declined to stay the National Company Law Appellate Tribunal's (NCLAT) order, allowing the insolvency...

Sudarshan Bhandari

Make in India – A Leap of Faith

On Feb 13th, 2016, "Make in India" week was flagged off in Mumbai. 5000 delegates from 190 companies based in 60 countries participated in the...

Ishita Jain

The Beat Ideas: GoodLuck India- A Steel Suppliers' Pivot into Defence & Aerospace

GoodLuck India's subsidiary secures first overseas defence order of USD 6 million for 155mm heavy-calibre shells, marking a significant milestone...

Sudarshan Bhandari

Aequitas: WeWork India IPO Lockup Expiry-Shares Have Traded Down but WeWork Global Well in The Money

WeWork India raised around US$338m in its IPO in Oct 2025. The lockup on its promoter and pre-IPO investors is set to expire soon.

Akshat Shah

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

One Belt One Road - Three Years On

In 2013, Xi Jinping launched the One Belt One Road (OBOR) initiative. The aim of the initiative was to connect major Eurasian economies through...

Ishita Jain

The Jaiprakash Associates Story: From Ambition to Insolvency to Adani & Now a Supreme Court Freeze

On April 6, 2026, the Supreme Court declined to stay the National Company Law Appellate Tribunal's (NCLAT) order, allowing the insolvency...

Sudarshan Bhandari

Make in India – A Leap of Faith

On Feb 13th, 2016, "Make in India" week was flagged off in Mumbai. 5000 delegates from 190 companies based in 60 countries participated in the...

Ishita Jain

The Beat Ideas: GoodLuck India- A Steel Suppliers' Pivot into Defence & Aerospace

​GoodLuck India's subsidiary secures first overseas defence order of USD 6 million for 155mm heavy-calibre shells, marking a significant milestone...

Sudarshan Bhandari

Aequitas: WeWork India IPO Lockup Expiry-Shares Have Traded Down but WeWork Global Well in The Money

WeWork India raised around US$338m in its IPO in Oct 2025. The lockup on its promoter and pre-IPO investors is set to expire soon.

Akshat Shah

GoodLuck India's subsidiary secures first overseas defence order of USD 6 million for 155mm heavy-calibre shells, marking a significant milestone...