Equity Analyst - Fundamental & Thematic, Sree Capital

Sreemant Dudhoria,CFA

Equity Analyst - Fundamental & Thematic

Fundamental Research on Listed Indian Companies

Sree Capital

Sree Capital is a platform to share fundamental research on listed Indian companies. We do this research for our own investment

Thematic (Sector/Industry)

<ul>
<li>Promoters of multiple large-cap Indian firms made significant insider purchases in March 2025.</li>
<li>Sectors with notable activity include financials, real estate, and specialty chemicals.</li>
<li>Many of these stocks have already rallied post-purchase, with gains reaching up to 30%.</li>
</ul>


Promoters of multiple large-cap Indian firms made significant insider purchases in March 2025.
Sectors with notable activity include financials, real estate, and specialty chemicals.
Many of these stocks have already rallied post-purchase, with gains reaching up to 30%.


Insider Buying Trends in Indian Equities (Market Cap > USD 1 Billion) – March 2025

Global Healthcare Analyst

Tina Banerjee

Equity Capital Markets

<ul>
<li>Park Medi World is the second largest private hospital chain in North India with a capacity of 3,000 beds, and the largest private hospital chain in Haryana.</li>
<li>The company aims to raise INR9.6B through issuing fresh shares. Founder and Chairman, Dr. Ajit Gupta is the selling shareholder offering shares worth of INR3B for sale.</li>
<li>IPO proceeds will be utilized for debt repayment, funding capex for development of new hospital, expansion of existing hospital, and purchase of medical equipment.</li>
</ul>


Park Medi World is the second largest private hospital chain in North India with a capacity of 3,000 beds, and the largest private hospital chain in Haryana.
The company aims to raise INR9.6B through issuing fresh shares. Founder and Chairman, Dr. Ajit Gupta is the selling shareholder offering shares worth of INR3B for sale.
IPO proceeds will be utilized for debt repayment, funding capex for development of new hospital, expansion of existing hospital, and purchase of medical equipment.


Park Medi World Pre-IPO: Some Points Worth Attention

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>
<a href="https://www.smartkarma.com/entities/tata-consultancy-svcs-ltd" target="_blank" data-smartkarma-citation="entities:18708:1" rel="noopener">Tata Consultancy Svcs (TCS IN)</a> , <a href="https://www.smartkarma.com/entities/aurionpro-solutions-ltd" target="_blank" data-smartkarma-citation="entities:7984:1" rel="noopener">Aurionpro Solutions (AUPS IN)</a> , <a href="https://www.smartkarma.com/entities/mazagon-dock-shipbuilders-ltd" target="_blank" data-smartkarma-citation="entities:27022:1" rel="noopener">Mazagon Dock Shipbuilders (MAZDOCKS IN)  </a>have shared major updates across demand outlook, sector focus, expansion plans, and strategic pivots. </li>
<li>Each company is aligning efforts to navigate macro uncertainties, tap digital or sectoral growth, and optimize capital allocation.</li>
<li>From TCS’s cautious outlook and margin levers to Apollo’s digital push and Indigo’s hospitality play, these moves reflect a broad spectrum of strategies among market leaders.</li>
</ul>



Tata Consultancy Svcs (TCS IN) , Aurionpro Solutions (AUPS IN) , Mazagon Dock Shipbuilders (MAZDOCKS IN)  have shared major updates across demand outlook, sector focus, expansion plans, and strategic pivots. 
Each company is aligning efforts to navigate macro uncertainties, tap digital or sectoral growth, and optimize capital allocation.
From TCS’s cautious outlook and margin levers to Apollo’s digital push and Indigo’s hospitality play, these moves reflect a broad spectrum of strategies among market leaders.


Max Healthcare Institute / Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/max-healthcare-institute-ltd" target="_blank" data-smartkarma-citation="entities:35275:1" rel="noopener">Max Healthcare Institute (MAXHEALT IN)</a> completed the acquisition of Jaypee Healthcare in last November, thereby adding 700 beds. Jaypee added INR1,120M revenue with an operating EBITDA of INR230M in Q3FY25.</li>
<li>Max is setting up ~500 bedded hospital at Thane, Maharashtra on an asset-light built-to-suit basis. The proposed construction of hospital premises is expected to be completed by 2028.</li>
<li>Current expansion plan indicates significant capacity ramp-up (20%+) in FY26, and majority of which will come by Q1, thereby generating scope for revenue realization for most part of the year.</li>
</ul>



Max Healthcare Institute (MAXHEALT IN) completed the acquisition of Jaypee Healthcare in last November, thereby adding 700 beds. Jaypee added INR1,120M revenue with an operating EBITDA of INR230M in Q3FY25.
Max is setting up ~500 bedded hospital at Thane, Maharashtra on an asset-light built-to-suit basis. The proposed construction of hospital premises is expected to be completed by 2028.
Current expansion plan indicates significant capacity ramp-up (20%+) in FY26, and majority of which will come by Q1, thereby generating scope for revenue realization for most part of the year.


Max Healthcare (MAXHEALTH IN): Multi-Pronged Expansion Strategy Augurs Well for Sustainable Growth

External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

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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>The US government under Trump 2.0 has announced reciprocal tariffs across countries, including ~26% tariff on imports from India</li><li>However, pharmaceutical products were exempted from the first round of tariffs</li><li>This is a positive for the sector, which has been under a tariff overhang since the last 2-3 months</li></ul><p><em>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.</em></p>

The US government under Trump 2.0 has announced reciprocal tariffs across countries, including ~26% tariff on imports from IndiaHowever, pharmaceutical products were exempted from the first round of tariffsThis is a positive for the sector, which has been under a tariff overhang since the last 2-3 monthsContent 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.

Pharmaceuticals: Pharma dodges first round of US tariff risk

India

Apollo Hospitals Enterprise Limited owns and operates hospitals in India.  The Company also runs a 24-hour pharmacy network via over 120 outlets across India. Apollo Hospitals also runs clinics and offer managed care and family health plans. The Company has a variety of locations in Chennai, Hyderabad, Delhi, Dubai, Vizag, Bilaspur and Chengannur.

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Apollo Hospitals Enterprise (APHS IN)

Insider Buying Trends in Indian Equities (Market Cap > USD 1 Billion) – March 2025

Promoters increased stakes in key large-cap Indian stocks in March'25, signaling strong conviction. Focus on financials, real estate, and chemicals...

Sreemant Dudhoria,CFA

Park Medi World Pre-IPO: Some Points Worth Attention

Park Medi World, the second largest private hospital chain in North India, intends to raise INR9.6B via issuing fresh shares for debt repayment,...

Tina Banerjee

#3 Leadership Bytes(11-Apr-25)

Market leaders TCS, Aurionpro Solutions, and Mazagon Dock Shipbuilders are adapting to macro uncertainties, focusing on digital growth, and...

Sudarshan Bhandari

Max Healthcare (MAXHEALTH IN): Multi-Pronged Expansion Strategy Augurs Well for Sustainable Growth

Max Healthcare acquired Jaypee Healthcare, adding 700 beds in Q3FY25. The company is also setting up a 500-bed hospital in Thane, Maharashtra....

Tina Banerjee

Pharmaceuticals: Pharma dodges first round of US tariff risk

The US government under Trump 2.0 has announced reciprocal tariffs across countries, including ~26% tariff on imports from India

HDFC Securities

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Insider Buying Trends in Indian Equities (Market Cap > USD 1 Billion) – March 2025

Promoters increased stakes in key large-cap Indian stocks in March'25, signaling strong conviction. Focus on financials, real estate, and chemicals...

Sreemant Dudhoria,CFA

Park Medi World Pre-IPO: Some Points Worth Attention

Park Medi World, the second largest private hospital chain in North India, intends to raise INR9.6B via issuing fresh shares for debt repayment,...

Tina Banerjee

#3 Leadership Bytes(11-Apr-25)

​Market leaders TCS, Aurionpro Solutions, and Mazagon Dock Shipbuilders are adapting to macro uncertainties, focusing on digital growth, and...

Sudarshan Bhandari

Max Healthcare (MAXHEALTH IN): Multi-Pronged Expansion Strategy Augurs Well for Sustainable Growth

​Max Healthcare acquired Jaypee Healthcare, adding 700 beds in Q3FY25. The company is also setting up a 500-bed hospital in Thane, Maharashtra....

Tina Banerjee

Pharmaceuticals: Pharma dodges first round of US tariff risk

The US government under Trump 2.0 has announced reciprocal tariffs across countries, including ~26% tariff on imports from India

HDFC Securities

Market leaders TCS, Aurionpro Solutions, and Mazagon Dock Shipbuilders are adapting to macro uncertainties, focusing on digital growth, and...

Max Healthcare acquired Jaypee Healthcare, adding 700 beds in Q3FY25. The company is also setting up a 500-bed hospital in Thane, Maharashtra....