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.

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Thematic (Sector/Industry)

<ul>
<li>FY26 defence production reached Rs. 1.78 lakh crore and exports Rs. 38,424 crore, while capability gaps remain in electronics, seekers, counter-drone systems, secure networks and materials.</li>
<li>Platform assembly creates volume; design authority, embedded software and subsystem IP can create recurring upgrades, higher switching costs and export freedom.</li>
<li>BEL is the broadest proxy, while Data Patterns, Astra Microwave, Paras Defence and Zen offer narrower technology exposure. HAL, BDL and Solar remain execution-led plays.</li>
</ul>


FY26 defence production reached Rs. 1.78 lakh crore and exports Rs. 38,424 crore, while capability gaps remain in electronics, seekers, counter-drone systems, secure networks and materials.
Platform assembly creates volume; design authority, embedded software and subsystem IP can create recurring upgrades, higher switching costs and export freedom.
BEL is the broadest proxy, while Data Patterns, Astra Microwave, Paras Defence and Zen offer narrower technology exposure. HAL, BDL and Solar remain execution-led plays.


India's Defence Opportunity Is Shifting From Platforms To Technology

<ul>
<li>India’s private space ecosystem is moving towards commercialisation, with companies developing launch vehicles, satellites and aerospace technologies.</li>
<li>The global space industry is being reshaped by reusable rockets and lower launch costs. India currently remains significantly more expensive than global leaders.</li>
<li>India’s long-term opportunity depends on building scale, improving launch economics and developing reusable launch technology.</li>
</ul>


India’s private space ecosystem is moving towards commercialisation, with companies developing launch vehicles, satellites and aerospace technologies.
The global space industry is being reshaped by reusable rockets and lower launch costs. India currently remains significantly more expensive than global leaders.
India’s long-term opportunity depends on building scale, improving launch economics and developing reusable launch technology.


India Aerospace Opportunity: Can The Space Economy Become The Next Manufacturing Revolution?

India Equity Analyst - Fundamental & Thematic, Beat the Street

Sudarshan Bhandari

India Equity Analyst - Fundamental & Thematic

<ul>
<li>India's Union Budget FY27 allocates a record Rs. 7.85 lakh crore to defence, a 15.19% increase, the largest-ever outlay. </li>
<li>This is driven by a doctrinal shift: defence spending is no longer calibrated to threat cycles, it is now a permanent infrastructure of the Indian state.</li>
<li>With no political dialogue on Kashmir, the IWT suspended, and China backing Pakistan, India has accepted that a high-tension equilibrium is the new normal, and is funding accordingly.</li>
</ul>


India's Union Budget FY27 allocates a record Rs. 7.85 lakh crore to defence, a 15.19% increase, the largest-ever outlay. 
This is driven by a doctrinal shift: defence spending is no longer calibrated to threat cycles, it is now a permanent infrastructure of the Indian state.
With no political dialogue on Kashmir, the IWT suspended, and China backing Pakistan, India has accepted that a high-tension equilibrium is the new normal, and is funding accordingly.


Thematic Report- India: Defence Is No Longer a Choice, It's a Necessity!

<ul>
<li>India’s Defense Acquisition Council approved INR 2.38 lakh crore proposals on March 27, 2026, taking total FY26 approvals to ~INR 9.3 lakh crore across Army, Air Force, and Coast Guard.</li>
<li>The pace and scale of approvals reinforce a multi-year procurement cycle, with indigenization becoming structural, expanding opportunities for domestic defence PSUs and private sector players.</li>
<li>
Stronger order visibility led by BEL, improving execution clarity for HAL, BDL’s indigenization progress, and Astra Microwave’s restructuring position the sector for sustained growth momentum.</li>
</ul>


India’s Defense Acquisition Council approved INR 2.38 lakh crore proposals on March 27, 2026, taking total FY26 approvals to ~INR 9.3 lakh crore across Army, Air Force, and Coast Guard.
The pace and scale of approvals reinforce a multi-year procurement cycle, with indigenization becoming structural, expanding opportunities for domestic defence PSUs and private sector players.

Stronger order visibility led by BEL, improving execution clarity for HAL, BDL’s indigenization progress, and Astra Microwave’s restructuring position the sector for sustained growth momentum.


Thematic Report: India Defense Sector - Moving Into Growth Phase

<ul>
<li>Middle East tensions have increased the risk of Brent crude moving toward USD 85-90 per barrel in the near term.</li>
<li>For India, every USD 10 rise in crude can add around 30 bps to inflation and widen the current account deficit.</li>
<li>The impact will vary by sector. Upstream oil companies benefit, while oil-intensive sectors face margin pressure if prices stay elevated.</li>
</ul>


Middle East tensions have increased the risk of Brent crude moving toward USD 85-90 per barrel in the near term.
For India, every USD 10 rise in crude can add around 30 bps to inflation and widen the current account deficit.
The impact will vary by sector. Upstream oil companies benefit, while oil-intensive sectors face margin pressure if prices stay elevated.


Event Driven- Middle East Volatility: How Indian Sectors Respond to Higher Crude

India

Bharat Dynamics Limited (BDL) is an Indian manufacturer of ammunitions and missile systems for the Indian Armed Forces, collaborating with DRDO and foreign OEMs. The company produces a wide range of weapon systems including surface-to-air missiles, anti-tank guided missiles, air defence systems, and underwater weapons. BDL was founded in 1970 and is headquartered in Hyderabad, India.

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Bharat Dynamics (BDL IN)

India's Defence Opportunity Is Shifting From Platforms To Technology

India’s defence opportunity is shifting from platform manufacturing to IP, electronics and design authority, favouring firms with technology depth...

Nimish Maheshwari

India Aerospace Opportunity: Can The Space Economy Become The Next Manufacturing Revolution?

Can India transform its space ecosystem from a low-cost scientific programme into a globally competitive commercial aerospace industry?

Nimish Maheshwari

Thematic Report- India: Defence Is No Longer a Choice, It's a Necessity!

India's Union Budget FY27 allocates record Rs. 7.85 lakh crore to defence, reflecting a shift to permanent infrastructure amid high-tension...

Sudarshan Bhandari

Thematic Report: India Defense Sector - Moving Into Growth Phase

India's Defense Acquisition Council approved INR 2.38 lakh crore proposals, reinforcing a multi-year procurement cycle and boosting opportunities...

Sudarshan Bhandari

Event Driven- Middle East Volatility: How Indian Sectors Respond to Higher Crude

Middle East tensions may push Brent crude towards $85-90/barrel, posing inflation and current account deficit risks for India, with varying...

Sudarshan Bhandari

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

India's Defence Opportunity Is Shifting From Platforms To Technology

India’s defence opportunity is shifting from platform manufacturing to IP, electronics and design authority, favouring firms with technology depth...

Nimish Maheshwari

India Aerospace Opportunity: Can The Space Economy Become The Next Manufacturing Revolution?

Can India transform its space ecosystem from a low-cost scientific programme into a globally competitive commercial aerospace industry?

Nimish Maheshwari

Thematic Report- India: Defence Is No Longer a Choice, It's a Necessity!

​India's Union Budget FY27 allocates record Rs. 7.85 lakh crore to defence, reflecting a shift to permanent infrastructure amid high-tension...

Sudarshan Bhandari

Thematic Report: India Defense Sector - Moving Into Growth Phase

​India's Defense Acquisition Council approved INR 2.38 lakh crore proposals, reinforcing a multi-year procurement cycle and boosting opportunities...

Sudarshan Bhandari

Event Driven- Middle East Volatility: How Indian Sectors Respond to Higher Crude

​Middle East tensions may push Brent crude towards $85-90/barrel, posing inflation and current account deficit risks for India, with varying...

Sudarshan Bhandari

India's Union Budget FY27 allocates record Rs. 7.85 lakh crore to defence, reflecting a shift to permanent infrastructure amid high-tension...

India's Defense Acquisition Council approved INR 2.38 lakh crore proposals, reinforcing a multi-year procurement cycle and boosting opportunities...

Middle East tensions may push Brent crude towards $85-90/barrel, posing inflation and current account deficit risks for India, with varying...