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

Thematic (Sector/Industry)

<ul>
<li>An individual alleged the Adani Group engaged in bid rigging and abused market dominance to win a massive 2019 SECI solar tender. </li>
<li>The CCI completely dismissed the case since Adani lacks market dominance, procuring agencies can set rules, and there was zero cartelisation evidence.</li>
<li>This clear regulatory dismissal immediately triggered a surge in their stock prices, removing institutional anxiety and allowing focus on future execution.
</li>
</ul>


An individual alleged the Adani Group engaged in bid rigging and abused market dominance to win a massive 2019 SECI solar tender. 
The CCI completely dismissed the case since Adani lacks market dominance, procuring agencies can set rules, and there was zero cartelisation evidence.
This clear regulatory dismissal immediately triggered a surge in their stock prices, removing institutional anxiety and allowing focus on future execution.



The Adani Group Clearance: Deconstructing the CCI Verdict and What It Means for the Conglomerate

Market & Forensics Analyst, Beat the Street

Nimish Maheshwari

Market & Forensics Analyst

<ul>
<li>The US administration has issued a six-month pause on FCPA enforcement, potentially revisiting and scaling back past actions, including those linked to the Adani bribery charges.</li>
<li>This executive order could alleviate regulatory pressures, offering companies like Adani a temporary reprieve and potentially reshaping global enforcement norms for corporate bribery cases.</li>
<li>Investors may now see a more balanced regulatory landscape, reducing immediate legal risks for multinational corporations while prompting a reassessment of FCPA's impact on global business conduct.</li>
</ul>


The US administration has issued a six-month pause on FCPA enforcement, potentially revisiting and scaling back past actions, including those linked to the Adani bribery charges.
This executive order could alleviate regulatory pressures, offering companies like Adani a temporary reprieve and potentially reshaping global enforcement norms for corporate bribery cases.
Investors may now see a more balanced regulatory landscape, reducing immediate legal risks for multinational corporations while prompting a reassessment of FCPA's impact on global business conduct.


Trump's FCPA Pause: How Does It Affect Adani's Bribery Charges?

Equity Bottom-Up

<ul>
<li>The US SEC and Adani jointly filed consent judgment on 14 May 2026, Gautam Adani pays $6 million, Sagar Adani pays $12 million. The US DOJ drops all criminal charges</li>
<li>The settlement ends 18 months of legal uncertainty that froze Adani Group's access to US dollar bond markets and stalled its $100 billion infrastructure push. No guilt admitted.</li>
<li>Political shift under Trump, well-timed $10 billion investment offer and the suspension of  FCPA law effectively defused what began as one of the largest bribery cases tied to Indian conglomerate</li>
</ul>


The US SEC and Adani jointly filed consent judgment on 14 May 2026, Gautam Adani pays $6 million, Sagar Adani pays $12 million. The US DOJ drops all criminal charges
The settlement ends 18 months of legal uncertainty that froze Adani Group's access to US dollar bond markets and stalled its $100 billion infrastructure push. No guilt admitted.
Political shift under Trump, well-timed $10 billion investment offer and the suspension of  FCPA law effectively defused what began as one of the largest bribery cases tied to Indian conglomerate


The $18 Million Exit: How Adani Closed Its US Legal Chapter?

Senior Credit Analyst, Lucror Analytics

Leonard Law, CFA

Senior Credit Analyst

High Yield Experts

Lucror Analytics

Lucror Analytics is a leading credit and ESG research specialist and a provider of technology solutions for differentiated fixed income strategies. Our roots are in bottom-up fundamental credit analysis with a specialization in high yield corporate credits from Europe, Asia and Latin America. We are one of few research specialists integrating ESG considerations with fundamental credit research through a dedicated ESG platform. Our ESG assessment covers five key criteria: Disclosure, E,S, & G Pillars, Controversies, ESG Impact on Credit and ESG Momentum.

Recognizing the importance and value-add of Factor Investing in fixed income, Lucror developed the Smart Quant Navigator (SQN), an intuitive platform that helps clients devise and implement factor-based strategies ranging from pure quant to active fundamental, with integrated ESG.

Our company has been at the forefront of developments in the fixed income markets, identifying opportunities and consistently delivering new products and value-adding solutions to clients. Lucror has close relationships with the largest and most reputable asset managers, family offices, hedge funds, investment and wealth managers globally.

Credit

<ul>
<li>In today's Morning Views publication we comment on developments of the following high yield issuers: Seazen Group, Thai Oil, Xiaomi Corp, ReNew Energy, Azure Power</li>
<li>The UST curve twisted flatter yesterday. Front-end yields climbed following the release of robust US economic data, which included strong November personal spending and an upward revision to Q3/25 GDP, while long-end yields retreated as geopolitical tensions eased.</li>
<li>The yield on the 2Y UST rose 2 bps to 3.61%, while that on the 10Y UST was unchanged at 4.25%. Equities climbed for a second day, with the S&amp;P 500 and Nasdaq up 0.5% and 0.9%, respectively.</li>
</ul>


In today's Morning Views publication we comment on developments of the following high yield issuers: Seazen Group, Thai Oil, Xiaomi Corp, ReNew Energy, Azure Power
The UST curve twisted flatter yesterday. Front-end yields climbed following the release of robust US economic data, which included strong November personal spending and an upward revision to Q3/25 GDP, while long-end yields retreated as geopolitical tensions eased.
The yield on the 2Y UST rose 2 bps to 3.61%, while that on the 10Y UST was unchanged at 4.25%. Equities climbed for a second day, with the S&amp;P 500 and Nasdaq up 0.5% and 0.9%, respectively.


<ul>
<li>In today's Morning Views publication we comment on developments of the following high yield issuers: New World Development, Indofood CBP, Azure Power, Adani Green Energy, Meituan</li>
<li>In the US, treasuries climbed in a holiday-shortened session on Friday, with yields falling 8-10 bps across the curve. The yield on the 2Y UST dropped 8 bps to 4.15%, while that on the 10Y UST declined 10 bps to 4.17%.</li>
<li>Equities rallied, with the S&amp;P 500 rising 0.6% to a new record high of 6,032.</li>
</ul>


In today's Morning Views publication we comment on developments of the following high yield issuers: New World Development, Indofood CBP, Azure Power, Adani Green Energy, Meituan
In the US, treasuries climbed in a holiday-shortened session on Friday, with yields falling 8-10 bps across the curve. The yield on the 2Y UST dropped 8 bps to 4.15%, while that on the 10Y UST declined 10 bps to 4.17%.
Equities rallied, with the S&amp;P 500 rising 0.6% to a new record high of 6,032.


India

Azure Power is an Indian solar power company that develops, constructs, owns, and operates utility-scale solar, wind, and hybrid power projects. The company sells energy to government utilities and independent industrial and commercial customers in India. Azure Power was founded in 2008 and is headquartered in New Delhi, India.

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Azure Power (AZREF US)

The Adani Group Clearance: Deconstructing the CCI Verdict and What It Means for the Conglomerate

Allegations of bid rigging against Adani Group dismissed by CCI, leading to surge in stock prices and renewed focus on future execution.

Sudarshan Bhandari

Trump's FCPA Pause: How Does It Affect Adani's Bribery Charges?

US administration pauses FCPA enforcement for six months, potentially revisiting past actions and providing temporary relief for companies like...

Nimish Maheshwari

The $18 Million Exit: How Adani Closed Its US Legal Chapter?

Adani Group settles with US SEC, pays $18 million to end legal uncertainty and resume $100 billion infrastructure push. No guilt admitted,...

Sudarshan Bhandari

Lucror Analytics - Morning Views Asia

In today's Morning Views publication we comment on developments of the following high yield issuers: Seazen Group, Thai Oil, Xiaomi Corp, ReNew...

Lucror Analytics

Lucror Analytics - Morning Views Asia

In today's Morning Views publication we comment on developments of the following high yield issuers: New World Development, Indofood CBP, Azure...

Lucror Analytics

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

The Adani Group Clearance: Deconstructing the CCI Verdict and What It Means for the Conglomerate

​Allegations of bid rigging against Adani Group dismissed by CCI, leading to surge in stock prices and renewed focus on future execution.

Sudarshan Bhandari

Trump's FCPA Pause: How Does It Affect Adani's Bribery Charges?

​US administration pauses FCPA enforcement for six months, potentially revisiting past actions and providing temporary relief for companies like...

Nimish Maheshwari

The $18 Million Exit: How Adani Closed Its US Legal Chapter?

​Adani Group settles with US SEC, pays $18 million to end legal uncertainty and resume $100 billion infrastructure push. No guilt admitted,...

Sudarshan Bhandari

Lucror Analytics - Morning Views Asia

In today's Morning Views publication we comment on developments of the following high yield issuers: Seazen Group, Thai Oil, Xiaomi Corp, ReNew...

Lucror Analytics

Lucror Analytics - Morning Views Asia

In today's Morning Views publication we comment on developments of the following high yield issuers: New World Development, Indofood CBP, Azure...

Lucror Analytics

Allegations of bid rigging against Adani Group dismissed by CCI, leading to surge in stock prices and renewed focus on future execution.

US administration pauses FCPA enforcement for six months, potentially revisiting past actions and providing temporary relief for companies like...

Adani Group settles with US SEC, pays $18 million to end legal uncertainty and resume $100 billion infrastructure push. No guilt admitted,...