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>
<a href="https://www.smartkarma.com/entities/reliance-industries-ltd" target="_blank" data-smartkarma-citation="entities:198:1" rel="noopener">Reliance Industries (RIL IN)</a> faces a $2.81 billion demand in a gas dispute, plans to challenge Delhi High Court ruling in Supreme Court.</li>
<li>Haldiram's stake sale faces delays as market downturn prompts <a href="https://www.smartkarma.com/entities/blackstone-inc" target="_blank" data-smartkarma-citation="entities:27166:1" rel="noopener">Blackstone (BX US)</a> to exit, citing high valuations; <a href="https://www.smartkarma.com/entities/temasek-holdings-pte-ltd" target="_blank" data-smartkarma-citation="entities:28816:1" rel="noopener">Temasek Holdings Pte Ltd (TMSK SP)</a> interest continues.</li>
<li>SEBI’s new open interest rules may impact BSE’s trading volumes, prompting <a href="https://www.smartkarma.com/entities/goldman-sachs-group-inc" target="_blank" data-smartkarma-citation="entities:785:1" rel="noopener">Goldman Sachs Group (GS US)</a> to cut its target price to Rs. 4,880.</li>
</ul>



Reliance Industries (RIL IN) faces a $2.81 billion demand in a gas dispute, plans to challenge Delhi High Court ruling in Supreme Court.
Haldiram's stake sale faces delays as market downturn prompts Blackstone (BX US) to exit, citing high valuations; Temasek Holdings Pte Ltd (TMSK SP) interest continues.
SEBI’s new open interest rules may impact BSE’s trading volumes, prompting Goldman Sachs Group (GS US) to cut its target price to Rs. 4,880.


#113 India Insight: Reliance Fights $2.81B Demand, Haldiram’s Deal Stalls, SEBI Hits BSE Volumes.

<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> is considering a majority stake sale in its shadow-banking unit, Axis Finance, valued at $900 million-$1 billion.</li>
<li>India plans a $1 billion subsidy to boost domestic solar wafer and ingot production, reducing reliance on China.</li>
<li>PAG, backed by <a href="https://www.smartkarma.com/entities/blackstone-inc" target="_blank" data-smartkarma-citation="entities:27166:1" rel="noopener">Blackstone (BX US)</a> , is exploring the sale of its 54% stake in <a href="https://www.smartkarma.com/entities/nuvama-wealth-management-ltd" target="_blank" data-smartkarma-citation="entities:40316:1" rel="noopener">Nuvama Wealth Management (NUVAMA IN)</a> Management for $1.2 billion.</li>
</ul>



Axis Bank Ltd (AXSB IN) is considering a majority stake sale in its shadow-banking unit, Axis Finance, valued at $900 million-$1 billion.
India plans a $1 billion subsidy to boost domestic solar wafer and ingot production, reducing reliance on China.
PAG, backed by Blackstone (BX US) , is exploring the sale of its 54% stake in Nuvama Wealth Management (NUVAMA IN) Management for $1.2 billion.


#111 India Insight: Axis Bank, India Solar Push, PAG Sell: $1B+ Deals in Focus

Market & Forensics Analyst, Beat the Street

Nimish Maheshwari

Market & Forensics Analyst

Event-Driven

EPL Ltd (fka Essel Propack) / Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/indorama-ventures-pcl" target="_blank" data-smartkarma-citation="entities:18105:1" rel="noopener">Indorama Ventures (IVL TB)</a> is acquiring a 24.9% stake in <a href="https://www.smartkarma.com/entities/epl-ltd" target="_blank" data-smartkarma-citation="entities:6958:1" rel="noopener">EPL Ltd (fka Essel Propack) (EPLL IN)</a> from Blackstone at Rs 240, marking a major entry into India’s packaging market.</li>
<li>This deal strengthens EPL’s growth and sustainability, unlocking cross-border synergies and driving competitiveness in the global specialty packaging sector.</li>
<li>It redefines investment dynamics in Indian packaging sector, emphasizing sustainable growth and long-term value creation, challenging traditional global investment paradigms.</li>
</ul>



Indorama Ventures (IVL TB) is acquiring a 24.9% stake in EPL Ltd (fka Essel Propack) (EPLL IN) from Blackstone at Rs 240, marking a major entry into India’s packaging market.
This deal strengthens EPL’s growth and sustainability, unlocking cross-border synergies and driving competitiveness in the global specialty packaging sector.
It redefines investment dynamics in Indian packaging sector, emphasizing sustainable growth and long-term value creation, challenging traditional global investment paradigms.


Event Driven: Indorama Bought Strategic Stake in EPL~ A New Chapter in Global Packaging

Asia Real Estate News Tracker, Asia Real Estate Tracker

Asia Real Estate Tracker

Asia Real Estate News Tracker

Tracking developments across Asia's regional real estate markets

Equity Bottom-Up

Japan Hotel Reit Investment / Equity Bottom-Up

<ul><li>KKR and Gaw are in talks for a $660M sale of Hyatt Regency Tokyo to Japan Hotel REIT, potentially reshaping the hospitality market.</li><li>Singapore worker housing rents have surged by 10.8% in the second half of 2024, attributed to a significant increase in labor influx.</li><li>Despite falling rent trends in APAC office markets, Australia and Japan have shown resistance, according to Knight Frank's report.</li></ul>

KKR and Gaw are in talks for a $660M sale of Hyatt Regency Tokyo to Japan Hotel REIT, potentially reshaping the hospitality market.Singapore worker housing rents have surged by 10.8% in the second half of 2024, attributed to a significant increase in labor influx.Despite falling rent trends in APAC office markets, Australia and Japan have shown resistance, according to Knight Frank's report.

Asia Real Estate Tracker (07-Feb-2025): KKR & Gaw negotiating $660M sale of Hyatt Regency Tokyo.

IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

<ul>
<li>We summarise the latest spreads and newsflow of merger arb situations we cover across Hong Kong, Australia, New Zealand, Singapore, Japan, Indonesia, Malaysia, Philippines, Thailand and Chinese ADRs.</li>
<li>Highest spreads: <a href="https://www.smartkarma.com/entities/arcadium-lithium-plc" target="_blank" data-smartkarma-citation="entities:40438:1" rel="noopener">Arcadium Lithium (LTM AU)</a>, <a href="https://www.smartkarma.com/entities/seven-i-holdings-co-ltd" target="_blank" data-smartkarma-citation="entities:1041:1" rel="noopener">Seven &amp; I Holdings (3382 JP)</a>, <a href="https://www.smartkarma.com/entities/insignia-financial-ltd" target="_blank" data-smartkarma-citation="entities:12349:1" rel="noopener">Insignia Financial (IFL AU)</a>, <a href="https://www.smartkarma.com/entities/shanghai-henlius-biotech-inc" target="_blank" data-smartkarma-citation="entities:27888:1" rel="noopener">Shanghai Henlius Biotech (2696 HK)</a>, <a href="https://www.smartkarma.com/entities/get-nice-financial-group-ltd" target="_blank" data-smartkarma-citation="entities:29667:1" rel="noopener">Get Nice Financial Group Ltd (1469 HK)</a>. </li>
<li>Lowest spreads: <a href="https://www.smartkarma.com/entities/renewable-japan-co-ltd" target="_blank" data-smartkarma-citation="entities:35211:1" rel="noopener">Renewable Japan (9522 JP)</a>, <a href="https://www.smartkarma.com/entities/lifestyle-china-group-ltd" target="_blank" data-smartkarma-citation="entities:26090:1" rel="noopener">Lifestyle China (2136 HK)</a>, <a href="https://www.smartkarma.com/entities/macromill-inc" target="_blank" data-smartkarma-citation="entities:24026:1" rel="noopener">Macromill, Inc (3978 JP)</a>, <a href="https://www.smartkarma.com/entities/fuji-soft-inc" target="_blank" data-smartkarma-citation="entities:17504:1" rel="noopener">Fuji Soft Inc (9749 JP)</a>, <a href="https://www.smartkarma.com/entities/nec-networks-system-integr" target="_blank" data-smartkarma-citation="entities:16396:1" rel="noopener">Nec Networks &amp; System Integr (1973 JP)</a>, <a href="https://www.smartkarma.com/entities/nishimoto-co-ltd" target="_blank" data-smartkarma-citation="entities:44086:1" rel="noopener">Nishimoto (9260 JP)</a>. </li>
</ul>


We summarise the latest spreads and newsflow of merger arb situations we cover across Hong Kong, Australia, New Zealand, Singapore, Japan, Indonesia, Malaysia, Philippines, Thailand and Chinese ADRs.
Highest spreads: Arcadium Lithium (LTM AU), Seven &amp; I Holdings (3382 JP), Insignia Financial (IFL AU), Shanghai Henlius Biotech (2696 HK), Get Nice Financial Group Ltd (1469 HK). 
Lowest spreads: Renewable Japan (9522 JP), Lifestyle China (2136 HK), Macromill, Inc (3978 JP), Fuji Soft Inc (9749 JP), Nec Networks &amp; System Integr (1973 JP), Nishimoto (9260 JP). 


Merger Arb Mondays (16 Dec) - ESR, CPMC, Fosun Tourism, Seven & I, Fuji Soft, NEC Networks

United States

Blackstone Inc. operates as an investment company. The Company focuses on real estate, hedge funds, private equity, leveraged lending, senior debts, and rescue financing. Blackstone serves customers worldwide.

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Blackstone (BX US)

#113 India Insight: Reliance Fights $2.81B Demand, Haldiram’s Deal Stalls, SEBI Hits BSE Volumes.

Reliance Industries challenges $2.81 billion gas dispute ruling, Haldiram's stake sale delayed as Blackstone exits, SEBI rules impact BSE trading...

Sudarshan Bhandari

#111 India Insight: Axis Bank, India Solar Push, PAG Sell: $1B+ Deals in Focus

Axis Bank considers selling majority stake in Axis Finance, India plans $1 billion subsidy for solar production, PAG explores selling stake in...

Sudarshan Bhandari

Event Driven: Indorama Bought Strategic Stake in EPL~ A New Chapter in Global Packaging

Indorama Ventures acquires 24.9% stake in EPL Ltd from Blackstone at Rs 240, marking a major entry into India’s packaging market, driving...

Nimish Maheshwari

Asia Real Estate Tracker (07-Feb-2025): KKR & Gaw negotiating $660M sale of Hyatt Regency Tokyo.

KKR and Gaw in talks to sell Hyatt Regency Tokyo, Singapore worker housing rents rise 10.8%, Aus & Japan office markets bucking regional trend.

Asia Real Estate Tracker

Merger Arb Mondays (16 Dec) - ESR, CPMC, Fosun Tourism, Seven & I, Fuji Soft, NEC Networks

This week, the highest gross spreads are Arcadium Lithium (13.8%), Seven & I (11.6%), Insignia (10.8%), Henlius (10.8%), Get Nice (10.3%), ESR...

Arun George

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52-week Range

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#113 India Insight: Reliance Fights $2.81B Demand, Haldiram’s Deal Stalls, SEBI Hits BSE Volumes.

​Reliance Industries challenges $2.81 billion gas dispute ruling, Haldiram's stake sale delayed as Blackstone exits, SEBI rules impact BSE trading...

Sudarshan Bhandari

#111 India Insight: Axis Bank, India Solar Push, PAG Sell: $1B+ Deals in Focus

​Axis Bank considers selling majority stake in Axis Finance, India plans $1 billion subsidy for solar production, PAG explores selling stake in...

Sudarshan Bhandari

Event Driven: Indorama Bought Strategic Stake in EPL~ A New Chapter in Global Packaging

​Indorama Ventures acquires 24.9% stake in EPL Ltd from Blackstone at Rs 240, marking a major entry into India’s packaging market, driving...

Nimish Maheshwari

Asia Real Estate Tracker (07-Feb-2025): KKR & Gaw negotiating $660M sale of Hyatt Regency Tokyo.

KKR and Gaw in talks to sell Hyatt Regency Tokyo, Singapore worker housing rents rise 10.8%, Aus & Japan office markets bucking regional trend.

Asia Real Estate Tracker

Merger Arb Mondays (16 Dec) - ESR, CPMC, Fosun Tourism, Seven & I, Fuji Soft, NEC Networks

This week, the highest gross spreads are Arcadium Lithium (13.8%), Seven & I (11.6%), Insignia (10.8%), Henlius (10.8%), Get Nice (10.3%), ESR...

Arun George

Reliance Industries challenges $2.81 billion gas dispute ruling, Haldiram's stake sale delayed as Blackstone exits, SEBI rules impact BSE trading...

Axis Bank considers selling majority stake in Axis Finance, India plans $1 billion subsidy for solar production, PAG explores selling stake in...

Indorama Ventures acquires 24.9% stake in EPL Ltd from Blackstone at Rs 240, marking a major entry into India’s packaging market, driving...