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.

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Thematic (Sector/Industry)

<ul>
<li>The Indian automobile industry experienced a significant boost in sales in September 2025, driven by delayed purchases and the positive effects of GST reductions.</li>
<li>The increase in retail sales highlights a strong recovery in the sector, which is expected to continue into October as the full impact of the GST cuts becomes clear.</li>
<li>The sector’s strong performance and high consumer demand suggest a positive outlook for the coming months, with several key OEMs set for sustained growth.</li>
</ul>


The Indian automobile industry experienced a significant boost in sales in September 2025, driven by delayed purchases and the positive effects of GST reductions.
The increase in retail sales highlights a strong recovery in the sector, which is expected to continue into October as the full impact of the GST cuts becomes clear.
The sector’s strong performance and high consumer demand suggest a positive outlook for the coming months, with several key OEMs set for sustained growth.


The Beat Ideas: Indian Auto Industry: GST Cuts Power Record Festive Sales Surge

Index Rebal/Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Index Rebal/Special Situations

Quiddity Advisors

Pan-Asia Catalysts/Events

Index Rebalance

<ul>
<li>The June 2025 index review results for F100 and F250 indices were announced yesterday after LSE market close.</li>
<li>There will be no changes for F100. There will be 4 ADDs and 4 DELs for F250.</li>
<li>Separately, <a href="https://www.smartkarma.com/entities/urban-logistics-reit-plc" target="_blank" data-smartkarma-citation="entities:35663:1" rel="noopener">Urban Logistics REIT (SHED LN)</a> is set to be deleted from the F250 index in June 2025 due to the completion of an M&amp;A event.</li>
</ul>


The June 2025 index review results for F100 and F250 indices were announced yesterday after LSE market close.
There will be no changes for F100. There will be 4 ADDs and 4 DELs for F250.
Separately, Urban Logistics REIT (SHED LN) is set to be deleted from the F250 index in June 2025 due to the completion of an M&amp;A event.


Quiddity Leaderboard F100/F250 Jun25 Results: All 6 Expected ADDs/DELs Correct + Couple of Surprises

<ul>
<li>In this insight, we take a look at the potential index changes for F100 and F250 indices in the run-up to the June 2025 index rebal event.</li>
<li>We see one M&amp;A-related intra-review change for the F250 index in the next few days.</li>
<li>Separately, our latest estimates suggest there could be two regular changes for the F250 index during the June 2025 rebalance. We do not currently see any changes for the F100.</li>
</ul>


In this insight, we take a look at the potential index changes for F100 and F250 indices in the run-up to the June 2025 index rebal event.
We see one M&amp;A-related intra-review change for the F250 index in the next few days.
Separately, our latest estimates suggest there could be two regular changes for the F250 index during the June 2025 rebalance. We do not currently see any changes for the F100.


Quiddity Leaderboard F100/F250 Jun25: One High-Impact Intra-Review Change Soon; More Changes Later

<ul>
<li>In this insight, we take a look at the potential index changes for F100 and F250 in the run-up to the June 2025 index rebal event.</li>
<li>We see up to five M&amp;A-related intra-review changes for the F250 index in the run up to the June 2025 review. Many could be very high impact.</li>
<li>Separately, there could be one regular index change for the F250 index in June 2025. At present, we do not see any changes for the F100 index.</li>
</ul>


In this insight, we take a look at the potential index changes for F100 and F250 in the run-up to the June 2025 index rebal event.
We see up to five M&amp;A-related intra-review changes for the F250 index in the run up to the June 2025 review. Many could be very high impact.
Separately, there could be one regular index change for the F250 index in June 2025. At present, we do not see any changes for the F100 index.


Quiddity Leaderboard F100/F250 Jun25: Multiple High-Impact Intra-Review Index Additions Likely

<ul>
<li>In this insight, we take a look at the potential index changes for the F100 and F250 indices in the run-up to the March 2025 index rebal event.</li>
<li>We see up to three M&amp;A-related intra-review changes in the next few months.</li>
<li>Our latest estimates suggest there could be one regular change for the F100 index and at least two changes for the F250 index during the March 2025 rebalance.</li>
</ul>


In this insight, we take a look at the potential index changes for the F100 and F250 indices in the run-up to the March 2025 index rebal event.
We see up to three M&amp;A-related intra-review changes in the next few months.
Our latest estimates suggest there could be one regular change for the F100 index and at least two changes for the F250 index during the March 2025 rebalance.


Quiddity Leaderboard F100/F250 Mar25: High-Impact Intra-Review Additions Possible

United Kingdom

Ashoka India Equity Investment Trust plc is an investment trust incorporated in the United Kingdom. The objective is to achieve long-term capital appreciation, mainly through investment in securities listed in India and listed securities of companies with a significant presence in India.

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Ashoka India Equity Investment (AIE LN)

The Beat Ideas: Indian Auto Industry: GST Cuts Power Record Festive Sales Surge

Indian auto industry sees surge in September 2025 sales due to delayed purchases and GST reductions, with strong recovery expected to continue...

Sudarshan Bhandari

Quiddity Leaderboard F100/F250 Jun25 Results: All 6 Expected ADDs/DELs Correct + Couple of Surprises

All eight confirmed index changes have decent index flow impacts expected. Urban Logistics deletion could trigger one more addition to the F250...

Janaghan Jeyakumar, CFA

Quiddity Leaderboard F100/F250 Jun25: One High-Impact Intra-Review Change Soon; More Changes Later

The International Distribution (IDS LN) deal could close soon and the name could get deleted in May 2025. The top-ranked replacement name is...

Janaghan Jeyakumar, CFA

Quiddity Leaderboard F100/F250 Jun25: Multiple High-Impact Intra-Review Index Additions Likely

Most of the intra-review replacement candidates have well in excess of 10x ADV to buy if they get added to the F250 index. Some of these names...

Janaghan Jeyakumar, CFA

Quiddity Leaderboard F100/F250 Mar25: High-Impact Intra-Review Additions Possible

Most of the names leading the race for F250 addition have more than 10x ADV to trade and some of these names could get added on an intra-review basis.

Janaghan Jeyakumar, CFA

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

The Beat Ideas: Indian Auto Industry: GST Cuts Power Record Festive Sales Surge

​Indian auto industry sees surge in September 2025 sales due to delayed purchases and GST reductions, with strong recovery expected to continue...

Sudarshan Bhandari

Quiddity Leaderboard F100/F250 Jun25 Results: All 6 Expected ADDs/DELs Correct + Couple of Surprises

All eight confirmed index changes have decent index flow impacts expected. Urban Logistics deletion could trigger one more addition to the F250...

Janaghan Jeyakumar, CFA

Quiddity Leaderboard F100/F250 Jun25: One High-Impact Intra-Review Change Soon; More Changes Later

The International Distribution (IDS LN) deal could close soon and the name could get deleted in May 2025. The top-ranked replacement name is...

Janaghan Jeyakumar, CFA

Quiddity Leaderboard F100/F250 Jun25: Multiple High-Impact Intra-Review Index Additions Likely

Most of the intra-review replacement candidates have well in excess of 10x ADV to buy if they get added to the F250 index. Some of these names...

Janaghan Jeyakumar, CFA

Quiddity Leaderboard F100/F250 Mar25: High-Impact Intra-Review Additions Possible

Most of the names leading the race for F250 addition have more than 10x ADV to trade and some of these names could get added on an intra-review basis.

Janaghan Jeyakumar, CFA

Indian auto industry sees surge in September 2025 sales due to delayed purchases and GST reductions, with strong recovery expected to continue...