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

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/raymond-lifestyle-limited" target="_blank" data-smartkarma-citation="entities:43905:1" rel="noopener">Raymond Lifestyle (RAYMONDL IN)</a> recently demerged from Raymond Limited.  Since Raymond Limited was part of various indexes, Raymond Lifestyle was not. Index Fund selling led to a correction.</li>
<li>The correction made Raymond Lifestyle a special situation value bet.</li>
<li>The cherry on the cake is strong management guidance and a foray into the untapped non branded and unorganized apparel segment</li>
</ul>



Raymond Lifestyle (RAYMONDL IN) recently demerged from Raymond Limited.  Since Raymond Limited was part of various indexes, Raymond Lifestyle was not. Index Fund selling led to a correction.
The correction made Raymond Lifestyle a special situation value bet.
The cherry on the cake is strong management guidance and a foray into the untapped non branded and unorganized apparel segment


Raymond Lifestyle: A Value Play in Ethnic Wear with Special Situation Potential

India Equity Analyst - Fundamental & Thematic, Beat the Street

Sudarshan Bhandari

India Equity Analyst - Fundamental & Thematic

Thematic (Sector/Industry)

<ul>
<li>India’s GST 2.0 reform slashes tax rates on essentials, durables, autos, and healthcare while exempting insurance and education.</li>
<li>The move could accelerate consumption, especially in rural India, but risks straining government revenues and widening fiscal deficits.</li>
<li>If implemented smoothly, GST 2.0 may drive a multi-sector consumption upcycle, though revenue trade-offs and uneven pass-through pose risks.</li>
</ul>


India’s GST 2.0 reform slashes tax rates on essentials, durables, autos, and healthcare while exempting insurance and education.
The move could accelerate consumption, especially in rural India, but risks straining government revenues and widening fiscal deficits.
If implemented smoothly, GST 2.0 may drive a multi-sector consumption upcycle, though revenue trade-offs and uneven pass-through pose risks.


Thematic Report on GST 2.0 Regime: Who Gains, Who Loses as India Bets on Demand Revival.

Chief Executive Officer, Emmer Capital Partners Limited

Manishi Raychaudhuri

Chief Executive Officer

Emmer Capital Partners Limited

Emmer Capital Partners is an Asia Pacific focused financial advisory firm engaging in strategic financial asset allocation advice, bespoke thematic research and advising early-stage companies and connecting them to investors. Emmer Capital provides macro-economic and multi-asset investment strategy inputs to institutions, family offices, private wealth managers, private equity, and corporate boards directly and through independent research platforms. Emmer Capital also advises a wide range of startup companies on fund raising and business strategy. Emmer Capital's active engagement with the print and electronic media reaches a broad spectrum of investors across the globe.

Cross Asset Strategy

<ul>
<li>We use quantamental screens to identify overvalued stocks in Asia, with weak fundamentals – consistently low earnings growth, forecast return ratios less than cost of capital, and over-leveraged balance sheets.</li>
<li>We screen Asia-listed stocks above US$1bn market cap on declining EPS CAGR over next 2 years, less than 10% ROE, higher than 1x PEG and P/BV, more than 80% D/E.</li>
<li>We identify 30 stocks: 11 from HK/China, 9 from Japan, 4 from Taiwan, 3 from India, and one each from Korea, Malaysia and Singapore. Financials, property, industrials dominate the list.</li>
</ul>


We use quantamental screens to identify overvalued stocks in Asia, with weak fundamentals – consistently low earnings growth, forecast return ratios less than cost of capital, and over-leveraged balance sheets.
We screen Asia-listed stocks above US$1bn market cap on declining EPS CAGR over next 2 years, less than 10% ROE, higher than 1x PEG and P/BV, more than 80% D/E.
We identify 30 stocks: 11 from HK/China, 9 from Japan, 4 from Taiwan, 3 from India, and one each from Korea, Malaysia and Singapore. Financials, property, industrials dominate the list.


Asian Equities: The Overvalued, Low Growth, Over-Leveraged Stocks

<ul>
<li>GOI launches a 4.83% stake sale in Mazagon Dock at an 8% discount, causing a 6.4% stock dip.</li>
<li>SEBI may investigate <a href="https://www.smartkarma.com/entities/gensol-engineering-limited" target="_blank" data-smartkarma-citation="entities:44470:1" rel="noopener">Gensol Engineering (GENSOL IN)</a> over related-party EV leases and falsified debt servicing documents.</li>
<li>
<a href="https://www.smartkarma.com/entities/aditya-birla-fashion-and-retail-ltd" target="_blank" data-smartkarma-citation="entities:19048:1" rel="noopener">Aditya Birla Fashion and Retail Ltd (ABFRL IN)</a> shifts focus to organic growth with plans to double revenue and hit 70% ROCE in lifestyle brands which drives strong re-rating potential.</li>
</ul>


GOI launches a 4.83% stake sale in Mazagon Dock at an 8% discount, causing a 6.4% stock dip.
SEBI may investigate Gensol Engineering (GENSOL IN) over related-party EV leases and falsified debt servicing documents.

Aditya Birla Fashion and Retail Ltd (ABFRL IN) shifts focus to organic growth with plans to double revenue and hit 70% ROCE in lifestyle brands which drives strong re-rating potential.


#133 India Insight: GOI Trims 4.83% in Mazagon OFS, Gensol Faces SEBI Scrutiny, ABFRL’s 2x Rev Plan

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

S&P BSE SENSEX Index / Technical Analysis

S&P BSE SENSEX Index (SENSEX INDEX EQUITY)

<ul>
<li>Many major indexes are still testing (and holding above) critical supports. This includes MSCI ACWI (ACWI-US), TOPIX/TOPIX Small/Nikkei 225, EURO STOXX 50, STOXX Europe 600, and the DAX</li>
<li>Our overall outlook remains neutral, and we continue to see many attractive buying opportunities, especially out of Japan, India, and a new one -- Brazil.</li>
<li>Buy ideas focus on the Consumer Discretionary and Financials Sectors, with the vast majority of stock recommendations from Japan, India, and Brazil</li>
</ul>


Many major indexes are still testing (and holding above) critical supports. This includes MSCI ACWI (ACWI-US), TOPIX/TOPIX Small/Nikkei 225, EURO STOXX 50, STOXX Europe 600, and the DAX
Our overall outlook remains neutral, and we continue to see many attractive buying opportunities, especially out of Japan, India, and a new one -- Brazil.
Buy ideas focus on the Consumer Discretionary and Financials Sectors, with the vast majority of stock recommendations from Japan, India, and Brazil


Europe, Japan, $ACWI Testing Critical Supports; Rising DXY, Global Sovereign Yields a Major Headwind

India

Aditya Birla Fashion and Retail Limited (ABFRL) is an Indian fashion retail company offering a diverse portfolio of apparel and non-apparel accessories, including casual wear, formal wear, ethnic wear, and footwear. The company operates prominent brands like Louis Philippe, Van Heusen, Allen Solly, Peter England, and Pantaloons. ABFRL is headquartered in Mumbai, Maharashtra, India, and was founded in 2015.

Aditya Birla Fashion and Retail (ABFRL IN)

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Aditya Birla Fashion and Retail (ABFRL IN)

Raymond Lifestyle: A Value Play in Ethnic Wear with Special Situation Potential

Raymond Lifestyle demerged from Raymond Limited, correction due to Index Fund selling created special value bet with strong management guidance...

Nimish Maheshwari

Thematic Report on GST 2.0 Regime: Who Gains, Who Loses as India Bets on Demand Revival.

India's GST 2.0 reform cuts tax rates on essentials, durables, autos, and healthcare, potentially boosting consumption but risking fiscal deficits.

Sudarshan Bhandari

Asian Equities: The Overvalued, Low Growth, Over-Leveraged Stocks

Quantamental screens reveal overvalued Asian stocks with low earnings growth, low return ratios, and high leverage. 30 stocks identified across...

Manishi Raychaudhuri

#133 India Insight: GOI Trims 4.83% in Mazagon OFS, Gensol Faces SEBI Scrutiny, ABFRL’s 2x Rev Plan

GOI's stake sale in Mazagon Dock at a discount leads to stock dip; SEBI may probe Gensol Engineering; Aditya Birla Fashion aims for organic growth...

Sudarshan Bhandari

Europe, Japan, $ACWI Testing Critical Supports; Rising DXY, Global Sovereign Yields a Major Headwind

Europe $STOXX 50, Japan $TOPIX $Nikkei 225, $ACWI Testing Critical Supports; Rising $DXY, Global Sovereign Yields Remain Major Headwinds for global...

Vermilion Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Raymond Lifestyle: A Value Play in Ethnic Wear with Special Situation Potential

​Raymond Lifestyle demerged from Raymond Limited, correction due to Index Fund selling created special value bet with strong management guidance...

Nimish Maheshwari

Thematic Report on GST 2.0 Regime: Who Gains, Who Loses as India Bets on Demand Revival.

​India's GST 2.0 reform cuts tax rates on essentials, durables, autos, and healthcare, potentially boosting consumption but risking fiscal deficits.

Sudarshan Bhandari

Asian Equities: The Overvalued, Low Growth, Over-Leveraged Stocks

​Quantamental screens reveal overvalued Asian stocks with low earnings growth, low return ratios, and high leverage. 30 stocks identified across...

Manishi Raychaudhuri

#133 India Insight: GOI Trims 4.83% in Mazagon OFS, Gensol Faces SEBI Scrutiny, ABFRL’s 2x Rev Plan

​GOI's stake sale in Mazagon Dock at a discount leads to stock dip; SEBI may probe Gensol Engineering; Aditya Birla Fashion aims for organic growth...

Sudarshan Bhandari

Europe, Japan, $ACWI Testing Critical Supports; Rising DXY, Global Sovereign Yields a Major Headwind

Europe $STOXX 50, Japan $TOPIX $Nikkei 225, $ACWI Testing Critical Supports; Rising $DXY, Global Sovereign Yields Remain Major Headwinds for global...

Vermilion Research

Raymond Lifestyle demerged from Raymond Limited, correction due to Index Fund selling created special value bet with strong management guidance...

India's GST 2.0 reform cuts tax rates on essentials, durables, autos, and healthcare, potentially boosting consumption but risking fiscal deficits.

Quantamental screens reveal overvalued Asian stocks with low earnings growth, low return ratios, and high leverage. 30 stocks identified across...

GOI's stake sale in Mazagon Dock at a discount leads to stock dip; SEBI may probe Gensol Engineering; Aditya Birla Fashion aims for organic growth...