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

Thematic (Sector/Industry)

<ul>
<li>
<a href="https://www.smartkarma.com/entities/ultratech-cement-ltd" target="_blank" data-smartkarma-citation="entities:181:1" rel="noopener">Ultratech Cement (UTCEM IN)</a> saw a resurgence in demand starting in December. CFO Atul Daga characterized this as a "positive storm," fueled by continuous demand increases that boosted cement prices.  </li>
<li>
<a href="https://www.smartkarma.com/entities/ambuja-cements-ltd" target="_blank" data-smartkarma-citation="entities:14745:1" rel="noopener">Ambuja Cements (ACEM IN)</a> is strategically expanding capacity, aiming for cost leadership, and leveraging group synergies to reach 140 million tons of cement capacity by FY28.  </li>
<li>
<a href="https://www.smartkarma.com/entities/jk-cement-ltd" target="_blank" data-smartkarma-citation="entities:9744:1" rel="noopener">JK Cement Ltd (JKCE IN)</a>’s proposed acquisition of 60% equity in Saifco Cements marks their penetration in Jammu-Kashmir(capacity- 0.42 Mn tons), which is expected to improve profitability, increase production capacity.</li>
</ul>



Ultratech Cement (UTCEM IN) saw a resurgence in demand starting in December. CFO Atul Daga characterized this as a "positive storm," fueled by continuous demand increases that boosted cement prices.  

Ambuja Cements (ACEM IN) is strategically expanding capacity, aiming for cost leadership, and leveraging group synergies to reach 140 million tons of cement capacity by FY28.  

JK Cement Ltd (JKCE IN)’s proposed acquisition of 60% equity in Saifco Cements marks their penetration in Jammu-Kashmir(capacity- 0.42 Mn tons), which is expected to improve profitability, increase production capacity.


Themes of India: Cement Industry Q3 Update

Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Periscope Analytics

Periscope Analytics focuses on event-driven trades across Asia Pacific and provides comprehensive, timely and systematic coverage of index changes to major Asia Pacific indices in a structured manner.

The analysis includes forecasted inclusions and exclusions to all major Asian indices that have significant amount of tracking assets, including estimates of passive buy/sell flow on the stocks. The service also provides commentary and impact of market consultations, ground rule changes, and other events (IPOs, spin-offs, M&A) that could lead to index changes and passive flow.

Periscope Analytics works with multi-strategy hedge funds, proprietary trading firms, stat arb trading groups and long-only investors that invest and trade in the Asia Pacific region with the data being used to trade index rebalances, avoid pre-positioning and passive flow, and to time entry into and exit from stocks.

Event-Driven Trades Across Asia Pacific

Event-Driven

<ul>
<li>Companies in India have disclosed their shareholding pattern as of end-December in January. There are companies with significant float changes from end-September and/or end-June.</li>
<li>The changes in free float could be reflected in domestic and global indices over the next few weeks and months resulting in action from passive trackers.</li>
<li>Depending on the date that the shareholding was published, there could be 13 stocks with passive inflows from global trackers while 4 could see passive outflows in February.</li>
</ul>


Companies in India have disclosed their shareholding pattern as of end-December in January. There are companies with significant float changes from end-September and/or end-June.
The changes in free float could be reflected in domestic and global indices over the next few weeks and months resulting in action from passive trackers.
Depending on the date that the shareholding was published, there could be 13 stocks with passive inflows from global trackers while 4 could see passive outflows in February.


India: Potential Free Float Changes & Passive Flows in February

<ul>
<li>The first half of FY25 presented headwinds for the cement industry due to factors like delayed monsoon, elections amidst season and decline in the rural Demand.</li>
<li>The all-India average trade cement price reached Rs 372/bag in December 2024, a 2.9% MoM increase and cement demand grew by a mere 3% in Q2FY25.</li>
<li>The government's commitment to infrastructure is evident in the 6% increase in capital expenditure for FY25 as per the Union budget and the ambitious National Infrastructure Pipeline (NIP). </li>
</ul>


The first half of FY25 presented headwinds for the cement industry due to factors like delayed monsoon, elections amidst season and decline in the rural Demand.
The all-India average trade cement price reached Rs 372/bag in December 2024, a 2.9% MoM increase and cement demand grew by a mere 3% in Q2FY25.
The government's commitment to infrastructure is evident in the 6% increase in capital expenditure for FY25 as per the Union budget and the ambitious National Infrastructure Pipeline (NIP). 


Cement Industry: Is the Revival Feasible in H2FY25?

External broker reports(aggregated public sources), Axis Direct

Axis Direct

External broker reports(aggregated public sources)

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>Cement demand improves: After a subdued H1FY25, cement demand exhibited improvement in Q3FY25.</li><li>The demand during H1FY25 was impacted by seasonality, prolonged rainfall, delays in budgetary allocations for infrastructure projects, and labour shortages.</li><li>Historically, election years have been marked by a moderation in cement demand.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Cement demand improves: After a subdued H1FY25, cement demand exhibited improvement in Q3FY25.The demand during H1FY25 was impacted by seasonality, prolonged rainfall, delays in budgetary allocations for infrastructure projects, and labour shortages.Historically, election years have been marked by a moderation in cement demand.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

<ul><li>As we turn the final page of 2024, we extend our warmest wishes for a 'Happy New Year' to all our valued readers.</li><li>With great excitement, we welcome 2025, looking forward to a year filled with prosperity, peace, and happiness for you and your family.</li><li>At this juncture, we are delighted to unveil our New Year Picks for this year, curated to support and strengthen your investment journey in the year ahead.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

As we turn the final page of 2024, we extend our warmest wishes for a 'Happy New Year' to all our valued readers.With great excitement, we welcome 2025, looking forward to a year filled with prosperity, peace, and happiness for you and your family.At this juncture, we are delighted to unveil our New Year Picks for this year, curated to support and strengthen your investment journey in the year ahead.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

India

Ambuja Cements Limited manufactures cement in India. The Company owns specially designed ships and terminals for bulk transportation of its products. Ambuja Cement sells most of its products domestically, but also has a subsidiary that markets the Group's items in Sri Lanka.

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Ambuja Cements (ACEM IN)

Themes of India: Cement Industry Q3 Update

The overall indian cement industry is going under consolidation where 3-4 big players are gaining market share as well as acquiring different...

Nimish Maheshwari

India: Potential Free Float Changes & Passive Flows in February

Changes to shareholding patterns could lead to changes in float for some stocks in local/global indices. Passive trackers will need to trade over 5...

Brian Freitas

Cement Industry: Is the Revival Feasible in H2FY25?

Challenges in the cement industry in FY25 include delayed monsoon, elections, and rural demand decline, but government's infrastructure focus...

Nimish Maheshwari

Q3FY25 Earnings Preview - CEMENT

The demand during H1FY25 was impacted by seasonality, prolonged rainfall, delays in budgetary allocations for infrastructure projects, and labour...

Axis Direct

New Year Picks 2025

At this juncture, we are delighted to unveil our New Year Picks for this year, curated to support and strengthen your investment journey in the...

Axis Direct

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Themes of India: Cement Industry Q3 Update

The overall indian cement industry is going under consolidation where 3-4 big players are gaining market share as well as acquiring different...

Nimish Maheshwari

India: Potential Free Float Changes & Passive Flows in February

Changes to shareholding patterns could lead to changes in float for some stocks in local/global indices. Passive trackers will need to trade over 5...

Brian Freitas

Cement Industry: Is the Revival Feasible in H2FY25?

​Challenges in the cement industry in FY25 include delayed monsoon, elections, and rural demand decline, but government's infrastructure focus...

Nimish Maheshwari

Q3FY25 Earnings Preview - CEMENT

The demand during H1FY25 was impacted by seasonality, prolonged rainfall, delays in budgetary allocations for infrastructure projects, and labour...

Axis Direct

New Year Picks 2025

At this juncture, we are delighted to unveil our New Year Picks for this year, curated to support and strengthen your investment journey in the...

Axis Direct

Challenges in the cement industry in FY25 include delayed monsoon, elections, and rural demand decline, but government's infrastructure focus...