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/astral-poly-technik-ltd" target="_blank" data-smartkarma-citation="entities:7890:1" rel="noopener">Astral Ltd (ASTRA IN)</a> is a market leader in CPVC and plastic piping systems, with growing presence in adhesives, paints, and water tanks it maintained margins despite industry's headwinds.</li>
<li>New launches like Fire Pro, OPVC, Drain Pro, and valves are expected to contribute INR 450–500 crore annually, driving high-margin growth and portfolio expansion.</li>
<li>Dealers currently hold just 1–2 weeks of inventory, indicating an imminent restocking cycle that could boost near-term volumes.</li>
</ul>



Astral Ltd (ASTRA IN) is a market leader in CPVC and plastic piping systems, with growing presence in adhesives, paints, and water tanks it maintained margins despite industry's headwinds.
New launches like Fire Pro, OPVC, Drain Pro, and valves are expected to contribute INR 450–500 crore annually, driving high-margin growth and portfolio expansion.
Dealers currently hold just 1–2 weeks of inventory, indicating an imminent restocking cycle that could boost near-term volumes.


The Beat Ideas: Astral ~ Leader in PVC Pipes, Riding the Restocking Cycle

Consumer Analyst / Channel Surveillance Specialist, Trudence Capital Advisors

Pranav Bhavsar

Consumer Analyst / Channel Surveillance Specialist

Trudence Capital Advisors

Trudence Capital Advisors Private Limited is a SEBI-registered Research Analyst, holding SEBI registration number INH000015747. Our firm is dedicated to providing independent and unbiased research on Indian mid to large-cap companies. Trudence Capital is known for its counter-consensus views, with a focus on forensic research and on-ground primary investigations. Our research approach is thorough, involving detailed analysis of accounting practices and governance, alongside extensive channel checks.

Independent & Unbiased Research

<ul>
<li>The 56th GST Council Meeting is currently underway in New Delhi, having commenced on September 3, 2025 at 11:00 AM and will continue until September 4, 2025.</li>
<li>These are supposed to be "next-generation GST reforms" with a promise of implementing reforms as a "Diwali gift" for consumers.</li>
<li>Negative FII Participation, Negative Price Action, Rich Multiples coupled with Negative Earnings Revisions argue for a bearish positioning going into the "G" Day - Day of GST Reform Announcements.</li>
</ul>


The 56th GST Council Meeting is currently underway in New Delhi, having commenced on September 3, 2025 at 11:00 AM and will continue until September 4, 2025.
These are supposed to be "next-generation GST reforms" with a promise of implementing reforms as a "Diwali gift" for consumers.
Negative FII Participation, Negative Price Action, Rich Multiples coupled with Negative Earnings Revisions argue for a bearish positioning going into the "G" Day - Day of GST Reform Announcements.


A Trader's Guide To "G" Day | Positioning For "Next-Generation GST Reforms"

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

<ul>
<li>We highlight large and small cap companies that experienced significant insider buying during September 2025, as reported on the stock exchanges.</li>
<li>We also present key sectors which saw insider buying during the month along with names which have moved significantly above the insider buying price.</li>
<li>As September is a month just before the result season starts, some of these companies may highlight about improving prospects during coming quarters.</li>
</ul>


We highlight large and small cap companies that experienced significant insider buying during September 2025, as reported on the stock exchanges.
We also present key sectors which saw insider buying during the month along with names which have moved significantly above the insider buying price.
As September is a month just before the result season starts, some of these companies may highlight about improving prospects during coming quarters.


Insider Activity: Who Bought Their Own Stock in September?

<ul>
<li>In this insight, we detail about insider buying activity in Indian Equities for the month of August 2025.</li>
<li>Driven by pressure of increased tariffs, Indian equity market have been underperforming. But as seen in past during such times promoter buying activity increases.</li>
<li>This insight details about companies with notable insider buying (large and small caps), sectors which witnessed buying and stocks which trade above and below the insider purchase price.</li>
</ul>


In this insight, we detail about insider buying activity in Indian Equities for the month of August 2025.
Driven by pressure of increased tariffs, Indian equity market have been underperforming. But as seen in past during such times promoter buying activity increases.
This insight details about companies with notable insider buying (large and small caps), sectors which witnessed buying and stocks which trade above and below the insider purchase price.


Increased Tariffs -> Decline in Indian Equity Market -> Increased Promoter Activity in August 2025

Market & Forensics Analyst, Beat the Street

Nimish Maheshwari

Market & Forensics Analyst

Thematic (Sector/Industry)

<ul>
<li>PVC‐pipe makers endured FY 25’s perfect storm, resin prices crashed, trade channels destocked, volumes wobbled, yet April-May demand snapped back and resin prices appear to have bottomed.</li>
<li>Anti-Dumping duties plus the coming BIS quality curb on Chinese resin should lock in price discipline; government infra-spend, real-estate and irrigation needs set up 10-12 % volume CAGR for FY27.</li>
<li>With inventory now thin, even a modest restocking cycle could turbo-charge revenues while stabilising input costs let organised players claw back EBITDA margins; diversified leaders look best placed.</li>
</ul>


PVC‐pipe makers endured FY 25’s perfect storm, resin prices crashed, trade channels destocked, volumes wobbled, yet April-May demand snapped back and resin prices appear to have bottomed.
Anti-Dumping duties plus the coming BIS quality curb on Chinese resin should lock in price discipline; government infra-spend, real-estate and irrigation needs set up 10-12 % volume CAGR for FY27.
With inventory now thin, even a modest restocking cycle could turbo-charge revenues while stabilising input costs let organised players claw back EBITDA margins; diversified leaders look best placed.


Thematic Report: Indian Pipe Sector Turnaround

India

Astral Polytechnik Limited manufactures and markets CPVC plumbing systems for residential and industrial applications. The Company also manufactures ASTM solvent weld lead free PVC plumbing systems.

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Astral Ltd (ASTRA IN)

The Beat Ideas: Astral ~ Leader in PVC Pipes, Riding the Restocking Cycle

Astral Ltd is a market leader in CPVC and plastic piping systems, maintaining margins despite industry challenges and poised for high-margin...

Sudarshan Bhandari

A Trader's Guide To "G" Day | Positioning For "Next-Generation GST Reforms"

The 56th GST Council Meeting in New Delhi aims to bring next-generation reforms as a "Diwali gift" for consumers, but market indicators suggest a...

Pranav Bhavsar

Insider Activity: Who Bought Their Own Stock in September?

September 2025 saw significant insider buying in large and small cap companies, with key sectors experiencing movement above insider buying...

Sreemant Dudhoria,CFA

Increased Tariffs -> Decline in Indian Equity Market -> Increased Promoter Activity in August 2025

Update : Promoter of Tourism Finance Corporation of India (Aditya Kumar Halwasiya) further bought 3.25 lakh shares from open market on the last...

Sreemant Dudhoria,CFA

Thematic Report: Indian Pipe Sector Turnaround

PVC pipe makers faced challenges in FY25 but rebounded in April-May with potential for growth in FY27 due to government spending and quality...

Nimish Maheshwari

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

The Beat Ideas: Astral ~ Leader in PVC Pipes, Riding the Restocking Cycle

​Astral Ltd is a market leader in CPVC and plastic piping systems, maintaining margins despite industry challenges and poised for high-margin...

Sudarshan Bhandari

A Trader's Guide To "G" Day | Positioning For "Next-Generation GST Reforms"

​The 56th GST Council Meeting in New Delhi aims to bring next-generation reforms as a "Diwali gift" for consumers, but market indicators suggest a...

Pranav Bhavsar

Insider Activity: Who Bought Their Own Stock in September?

​September 2025 saw significant insider buying in large and small cap companies, with key sectors experiencing movement above insider buying...

Sreemant Dudhoria,CFA

Increased Tariffs -> Decline in Indian Equity Market -> Increased Promoter Activity in August 2025

Update : Promoter of Tourism Finance Corporation of India (Aditya Kumar Halwasiya) further bought 3.25 lakh shares from open market on the last...

Sreemant Dudhoria,CFA

Thematic Report: Indian Pipe Sector Turnaround

​PVC pipe makers faced challenges in FY25 but rebounded in April-May with potential for growth in FY27 due to government spending and quality...

Nimish Maheshwari

Astral Ltd is a market leader in CPVC and plastic piping systems, maintaining margins despite industry challenges and poised for high-margin...

The 56th GST Council Meeting in New Delhi aims to bring next-generation reforms as a "Diwali gift" for consumers, but market indicators suggest a...

September 2025 saw significant insider buying in large and small cap companies, with key sectors experiencing movement above insider buying...

PVC pipe makers faced challenges in FY25 but rebounded in April-May with potential for growth in FY27 due to government spending and quality...