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

Thematic (Sector/Industry)

<ul>
<li>Brent crude prices have fallen below $70 per barrel, driven by rising non-OPEC supply, weak global demand, and geopolitical shifts, easing inflationary pressures in oil-importing economies like India.</li>
<li>Lower crude prices benefit OMCs, paints, tyres, and aviation, boosting margins, while upstream oil producers and government revenue face pressure, creating a mixed impact on India's economy.</li>
<li>Oil prices may remain range-bound in the mid-$60s to $70s, with OPEC+ production strategies, global demand trends, and geopolitical risks shaping future market movements.</li>
</ul>


Brent crude prices have fallen below $70 per barrel, driven by rising non-OPEC supply, weak global demand, and geopolitical shifts, easing inflationary pressures in oil-importing economies like India.
Lower crude prices benefit OMCs, paints, tyres, and aviation, boosting margins, while upstream oil producers and government revenue face pressure, creating a mixed impact on India's economy.
Oil prices may remain range-bound in the mid-$60s to $70s, with OPEC+ production strategies, global demand trends, and geopolitical risks shaping future market movements.


How Is the Decline in Oil Prices Reshaping India’s Economy?

India Equity Analyst - Fundamental & Thematic, Beat the Street

Sudarshan Bhandari

India Equity Analyst - Fundamental & Thematic

<ul>
<li>Gold leasing rates have surged from 2-3% to 6-7%, squeezing jewellers margins. Higher funding costs and volatile gold prices are forcing industry leaders to reconsider pricing strategies.</li>
<li>Foreign companies in India paid the lowest tax on earnings in over 30 years in FY24, with the tax burden dropping significantly due to corporate tax cuts and GST reforms.</li>
<li>Despite slow growth in India, <a href="https://www.smartkarma.com/entities/unilever-plc-9bad7ce3-0d24-469f-831a-14bf19340303" target="_blank" data-smartkarma-citation="entities:28467:1" rel="noopener">Unilever (UL US)</a> remains committed to its local operations, with plans to focus on expanding its beauty &amp; wellbeing segment as part of its 2030 strategy.</li>
</ul>


Gold leasing rates have surged from 2-3% to 6-7%, squeezing jewellers margins. Higher funding costs and volatile gold prices are forcing industry leaders to reconsider pricing strategies.
Foreign companies in India paid the lowest tax on earnings in over 30 years in FY24, with the tax burden dropping significantly due to corporate tax cuts and GST reforms.
Despite slow growth in India, Unilever (UL US) remains committed to its local operations, with plans to focus on expanding its beauty &amp; wellbeing segment as part of its 2030 strategy.


#105 India Insight: Gold Leasing Rates Surge, Tax Cuts Ease Foreign Firms' Burden, Unilever Expands

APAC IPOs & Placements, Aequitas Research

Akshat Shah

APAC IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Capital Markets

Ajax Engineering Limited / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/ajax-engineering-limited" target="_blank" data-smartkarma-citation="entities:44026:1" rel="noopener">Ajax Engineering Limited (0896529D IN)</a> raised around US$145m in its India IPO.</li>
<li>Ajax Engineering Limited (AEL) is one of the leading concrete equipment manufacturers with a comprehensive range of concrete equipment, services and solutions across the concrete application value chain.</li>
<li>We have looked at the company’s past performance and valuations in our previous notes. In this note, we will talk about the trading dynamics.</li>
</ul>



Ajax Engineering Limited (0896529D IN) raised around US$145m in its India IPO.
Ajax Engineering Limited (AEL) is one of the leading concrete equipment manufacturers with a comprehensive range of concrete equipment, services and solutions across the concrete application value chain.
We have looked at the company’s past performance and valuations in our previous notes. In this note, we will talk about the trading dynamics.


Ajax Engineering IPO Trading - Decent Insti Coverage but Subdued Retail Demand

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

Equity Bottom-Up

<ul>
<li>The paint industry experienced significant challenges in Q2FY24, with most companies reporting subdued performance.</li>
<li>Asian Paints reported typical fluctuations in market share of 1-1.5%, while Berger Paints and AkzoNobel both reported gains in their respective market positions.</li>
<li>Asian Paints' current market share reduction and increased competitive pressure stem from its size and the slowing macro environment.</li>
</ul>


The paint industry experienced significant challenges in Q2FY24, with most companies reporting subdued performance.
Asian Paints reported typical fluctuations in market share of 1-1.5%, while Berger Paints and AkzoNobel both reported gains in their respective market positions.
Asian Paints' current market share reduction and increased competitive pressure stem from its size and the slowing macro environment.


Asian Paints (APNT IN) | Navigating Turbulence

Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Periscope Analytics

Periscope Analytics focuses on event-driven trades across Asia Pacific and provides comprehensive, timely and systematic coverage of index changes to major Asia Pacific indices in a structured manner.

The analysis includes forecasted inclusions and exclusions to all major Asian indices that have significant amount of tracking assets, including estimates of passive buy/sell flow on the stocks. The service also provides commentary and impact of market consultations, ground rule changes, and other events (IPOs, spin-offs, M&A) that could lead to index changes and passive flow.

Periscope Analytics works with multi-strategy hedge funds, proprietary trading firms, stat arb trading groups and long-only investors that invest and trade in the Asia Pacific region with the data being used to trade index rebalances, avoid pre-positioning and passive flow, and to time entry into and exit from stocks.

Event-Driven Trades Across Asia Pacific

Event-Driven

<ul>
<li>The <a href="https://www.smartkarma.com/entities/nifty-index" target="_blank" data-smartkarma-citation="entities:23617:1" rel="noopener">NIFTY Index</a>, <a href="https://www.smartkarma.com/entities/nse-nifty-next-50-index" target="_blank" data-smartkarma-citation="entities:36053:1" rel="noopener">Nifty Next 50 Index</a>, <a href="https://www.smartkarma.com/entities/nse-nifty-bank-index" target="_blank" data-smartkarma-citation="entities:26811:1" rel="noopener">NSE Nifty Bank Index</a>, CNXIT Index, Nifty Midcap 150 Index, Nifty100 Low Volatility30 Index and the <a href="https://www.smartkarma.com/entities/cpse-etf" target="_blank" data-smartkarma-citation="entities:28191:1" rel="noopener">CPSE ETF</a> rebalance at the close tomorrow.</li>
<li>The round-trip trade across the indices is US$3.3bn and there are 13 stocks with over 1 day of ADV to trade from passive trackers.</li>
<li>Stocks with the largest inflows are <a href="https://www.smartkarma.com/entities/trent-ltd" target="_blank" data-smartkarma-citation="entities:8410:1" rel="noopener">Trent</a>, <a href="https://www.smartkarma.com/entities/bharat-electronics-ltd" target="_blank" data-smartkarma-citation="entities:6636:1" rel="noopener">Bharat Electronics</a>, <a href="https://www.smartkarma.com/entities/canara-bank" target="_blank" data-smartkarma-citation="entities:543:1" rel="noopener">Canara Bank</a>, <a href="https://www.smartkarma.com/entities/bharat-heavy-electricals" target="_blank" data-smartkarma-citation="entities:460:1" rel="noopener">Bharat Heavy Electricals</a>, <a href="https://www.smartkarma.com/entities/oil-natural-gas-corp-ltd" target="_blank" data-smartkarma-citation="entities:3456:1" rel="noopener">Oil &amp; Natural Gas Corp</a>, <a href="https://www.smartkarma.com/entities/coal-india-ltd" target="_blank" data-smartkarma-citation="entities:9117:1" rel="noopener">Coal India</a>, <a href="https://www.smartkarma.com/entities/hindustan-aeronautics-ltd" target="_blank" data-smartkarma-citation="entities:26747:1" rel="noopener">Hindustan Aeronautics</a> and <a href="https://www.smartkarma.com/entities/interglobe-aviation-ltd" target="_blank" data-smartkarma-citation="entities:24877:1" rel="noopener">InterGlobe Aviation</a>.</li>
</ul>


The NIFTY Index, Nifty Next 50 Index, NSE Nifty Bank Index, CNXIT Index, Nifty Midcap 150 Index, Nifty100 Low Volatility30 Index and the CPSE ETF rebalance at the close tomorrow.
The round-trip trade across the indices is US$3.3bn and there are 13 stocks with over 1 day of ADV to trade from passive trackers.
Stocks with the largest inflows are Trent, Bharat Electronics, Canara Bank, Bharat Heavy Electricals, Oil &amp; Natural Gas Corp, Coal India, Hindustan Aeronautics and InterGlobe Aviation.


NIFTY Indices: Flows (Post Capping) At the Close Tomorrow; Round-Trip US$3.3bn

India

Berger Paints India Limited manufactures and distributes paints, enamels, varnishes, and synthetic resins. The Company's products are used in home, office, factory, interiors, exteriors, metal, wood, plastic, and others.

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Berger Paints India (BRGR IN)

How Is the Decline in Oil Prices Reshaping India’s Economy?

Falling Brent crude prices below $70/barrel benefit Indian economy through easing inflation, boosting certain industries, but pose challenges for...

Nimish Maheshwari

#105 India Insight: Gold Leasing Rates Surge, Tax Cuts Ease Foreign Firms' Burden, Unilever Expands

Gold leasing rates surge, squeezing jewellers' margins; foreign companies in India enjoy lowest tax burden in 30 years; Unilever remains committed...

Sudarshan Bhandari

Ajax Engineering IPO Trading - Decent Insti Coverage but Subdued Retail Demand

Ajax Engineering Limited raised around US$145m in its India IPO. In this note, we will talk about the demand and trading dynamics.

Akshat Shah

Asian Paints (APNT IN) | Navigating Turbulence

Q2FY24 was tough for the paint industry, with Asian Paints facing market share reduction due to size and macroeconomic factors, while Berger...

Pranav Bhavsar

NIFTY Indices: Flows (Post Capping) At the Close Tomorrow; Round-Trip US$3.3bn

The next rebalance of the Nifty family of indices takes place at the close on 27 Sep. The round-trip trade is US$3.3bn and there are 13 stocks with...

Brian Freitas

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

How Is the Decline in Oil Prices Reshaping India’s Economy?

​Falling Brent crude prices below $70/barrel benefit Indian economy through easing inflation, boosting certain industries, but pose challenges for...

Nimish Maheshwari

#105 India Insight: Gold Leasing Rates Surge, Tax Cuts Ease Foreign Firms' Burden, Unilever Expands

​Gold leasing rates surge, squeezing jewellers' margins; foreign companies in India enjoy lowest tax burden in 30 years; Unilever remains committed...

Sudarshan Bhandari

Ajax Engineering IPO Trading - Decent Insti Coverage but Subdued Retail Demand

Ajax Engineering Limited raised around US$145m in its India IPO. In this note, we will talk about the demand and trading dynamics.

Akshat Shah

Asian Paints (APNT IN) | Navigating Turbulence

​Q2FY24 was tough for the paint industry, with Asian Paints facing market share reduction due to size and macroeconomic factors, while Berger...

Pranav Bhavsar

NIFTY Indices: Flows (Post Capping) At the Close Tomorrow; Round-Trip US$3.3bn

The next rebalance of the Nifty family of indices takes place at the close on 27 Sep. The round-trip trade is US$3.3bn and there are 13 stocks with...

Brian Freitas

Falling Brent crude prices below $70/barrel benefit Indian economy through easing inflation, boosting certain industries, but pose challenges for...

Gold leasing rates surge, squeezing jewellers' margins; foreign companies in India enjoy lowest tax burden in 30 years; Unilever remains committed...

Q2FY24 was tough for the paint industry, with Asian Paints facing market share reduction due to size and macroeconomic factors, while Berger...