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

Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/axis-bank-ltd" target="_blank" data-smartkarma-citation="entities:768:1" rel="noopener">Axis Bank Ltd (AXSB IN)</a>stock corrected over 5% recently after citi's research analyst note highlighted that the expected recovery in Net Interest Margins would be significantly delayed. </li>
<li>A repo rate cut triggered faster asset repricing, while the bank's ability to cushion margins through lower deposit costs is effectively exhausted.</li>
<li>Investors must expect flat margins for longer, as the recovery timeline has now shifted to the fourth quarter of FY26.</li>
</ul>



Axis Bank Ltd (AXSB IN)stock corrected over 5% recently after citi's research analyst note highlighted that the expected recovery in Net Interest Margins would be significantly delayed. 
A repo rate cut triggered faster asset repricing, while the bank's ability to cushion margins through lower deposit costs is effectively exhausted.
Investors must expect flat margins for longer, as the recovery timeline has now shifted to the fourth quarter of FY26.


Axis Bank: A Temporary Shock or A Structural Shift?

SBI Cards & Payment Services / Equity Bottom-Up

<ul>
<li>Q2FY26 witnessed sequential NIM stability at 11.2%, but the adverse product mix shift toward transactors, coupled with higher operating costs, led to a lower pre-provision operating profit and PAT.</li>
<li>The company is actively sacrificing immediate yield for better asset quality and volume growth through RuPay/UPI integration, addressing key regulatory and positioning itself to capture theTier II-III consumption base.</li>
<li>If the stabilization of funding costs and the anticipated moderation of credit costs materialise, the premium valuation may be justified by renewed focus on higher-yielding revolving assets.
</li>
</ul>


Q2FY26 witnessed sequential NIM stability at 11.2%, but the adverse product mix shift toward transactors, coupled with higher operating costs, led to a lower pre-provision operating profit and PAT.
The company is actively sacrificing immediate yield for better asset quality and volume growth through RuPay/UPI integration, addressing key regulatory and positioning itself to capture theTier II-III consumption base.
If the stabilization of funding costs and the anticipated moderation of credit costs materialise, the premium valuation may be justified by renewed focus on higher-yielding revolving assets.



The Beat Ideas: SBI Cards - Is the Worst Now Behind Us?

Derivatives and Quantitative Strategist

Gaudenz Schneider

Equity Derivatives

<ul>
<li>This strategy exploits relative value in implied volatilities and combines it with a long Nifty 50 vs. short Nikkei 225 directional view over a period of two months.</li>
<li>The strategy performs well if the Nifty 50 rises and outperforms the Nikkei 225. If both indices decline, neither profit nor loss is incurred.</li>
<li>Leverage increases both the strategy's payoff and probability of success.</li>
</ul>


This strategy exploits relative value in implied volatilities and combines it with a long Nifty 50 vs. short Nikkei 225 directional view over a period of two months.
The strategy performs well if the Nifty 50 rises and outperforms the Nikkei 225. If both indices decline, neither profit nor loss is incurred.
Leverage increases both the strategy's payoff and probability of success.


EQD | Long Nifty 50 Vs. Short Nikkei 225 - A Relative Value Option Strategy with a Kicker

<ul>
<li>
Context: This Insight follows up on previously highlighted relative value opportunities, using a statistical methodology based on mean-reversion to identify opportunities in paired securities.</li>
<li>
Highlights: Currently eleven pair trade opportunities across three markets and six sectors persist.</li>
<li>
Why read: Statistical analysis offers a unique perspective on relative value. Gain insights into actionable statistical pair trade opportunities and monitor performance of previously highlighted pairs.</li>
</ul>



Context: This Insight follows up on previously highlighted relative value opportunities, using a statistical methodology based on mean-reversion to identify opportunities in paired securities.

Highlights: Currently eleven pair trade opportunities across three markets and six sectors persist.

Why read: Statistical analysis offers a unique perspective on relative value. Gain insights into actionable statistical pair trade opportunities and monitor performance of previously highlighted pairs.


Relative Value Opportunities in Asia-Pac, Pair Trade Roundup (22 Dec)

Specialist in Indian Banking and Economic Research

Hemindra Hazari

<ul>
<li>2 Heads of Audit in 1 month with another replacement within 6 months</li>
<li>Audit head in a bank is a highly sensitive post and the banking regulator recommends a minimum tenure of 3 years for the post</li>
<li>Internal audit in Axis Bank has become a major concern which should worry investors</li>
</ul>


2 Heads of Audit in 1 month with another replacement within 6 months
Audit head in a bank is a highly sensitive post and the banking regulator recommends a minimum tenure of 3 years for the post
Internal audit in Axis Bank has become a major concern which should worry investors


Farcical Saga of Axis Bank’s Chief Audit Executives

India

Axis Bank Limited provides a full range of banking services throughout India. The Group's activities include retail banking, investment management, merchant banking, treasury and NRI services, cash and credit management services, and ATM facilities.

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Axis Bank Ltd (AXSB IN)

Axis Bank: A Temporary Shock or A Structural Shift?

Axis Bank stock corrected over 4% as Citi's note delays expected NIM recovery, with flat margins expected until Q4 FY26.

Nimish Maheshwari

The Beat Ideas: SBI Cards - Is the Worst Now Behind Us?

The shift to transactors and higher costs led to lower profits. Company prioritizes asset quality and growth through RuPay/UPI integration and...

Nimish Maheshwari

EQD | Long Nifty 50 Vs. Short Nikkei 225 - A Relative Value Option Strategy with a Kicker

Option strategy: exploit relative value in implied volatilities combined with directional positioning for a leveraged payoff in a long Nifty 50 vs....

Gaudenz Schneider

Relative Value Opportunities in Asia-Pac, Pair Trade Roundup (22 Dec)

Statistical methodology identifies eleven pair trade opportunities across three markets and six sectors, offering unique insights into relative...

Gaudenz Schneider

Farcical Saga of Axis Bank’s Chief Audit Executives

The abrupt departure of two Audit Heads in quick succession raise serious concerns regarding the stability of internal audit and the extent of...

Hemindra Hazari

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Axis Bank: A Temporary Shock or A Structural Shift?

​Axis Bank stock corrected over 4% as Citi's note delays expected NIM recovery, with flat margins expected until Q4 FY26.

Nimish Maheshwari

The Beat Ideas: SBI Cards - Is the Worst Now Behind Us?

The shift to transactors and higher costs led to lower profits. Company prioritizes asset quality and growth through RuPay/UPI integration and...

Nimish Maheshwari

EQD | Long Nifty 50 Vs. Short Nikkei 225 - A Relative Value Option Strategy with a Kicker

Option strategy: exploit relative value in implied volatilities combined with directional positioning for a leveraged payoff in a long Nifty 50 vs....

Gaudenz Schneider

Relative Value Opportunities in Asia-Pac, Pair Trade Roundup (22 Dec)

​Statistical methodology identifies eleven pair trade opportunities across three markets and six sectors, offering unique insights into relative...

Gaudenz Schneider

Farcical Saga of Axis Bank’s Chief Audit Executives

​The abrupt departure of two Audit Heads in quick succession raise serious concerns regarding the stability of internal audit and the extent of...

Hemindra Hazari

Axis Bank stock corrected over 4% as Citi's note delays expected NIM recovery, with flat margins expected until Q4 FY26.

Statistical methodology identifies eleven pair trade opportunities across three markets and six sectors, offering unique insights into relative...

The abrupt departure of two Audit Heads in quick succession raise serious concerns regarding the stability of internal audit and the extent of...