Oil and Gas, Mint Finance

Suhas Reddy

Oil and Gas

Deep Fundamental Analysis

Mint Finance

Mint Finance's investment research blends deep fundamental analysis with technical & quant insights. Investment strategies straddle across multiple asset classes with risk management embedded into every trade to deliver an outsized reward-to-risk ratio.

Mint Finance's research is centered around three key themes. First, energy transition and climate change. Second, artificial intelligence. Third, shifting world order with its impact across politics and monetary economics.

Equity Bottom-Up

iSharesGlobal Clean Energy ETF / Equity Bottom-Up

<ul>
<li>ICLN has surged more than 35% since April, driven by record renewable generation, strong corporate earnings, and institutional inflows.</li>
<li>Investors and banks are rotating capital from fossil fuels into clean energy, signalling structural shifts and fuelling the rise of solar and renewables.</li>
<li>Global clean energy investment, led by solar, points to the early stages of a solar super cycle, positioning ICLN as a prime long-term play.</li>
</ul>


ICLN has surged more than 35% since April, driven by record renewable generation, strong corporate earnings, and institutional inflows.
Investors and banks are rotating capital from fossil fuels into clean energy, signalling structural shifts and fuelling the rise of solar and renewables.
Global clean energy investment, led by solar, points to the early stages of a solar super cycle, positioning ICLN as a prime long-term play.


ICLN’s Upward Momentum to Last Longer as Investors Pivot to Clean Energy

Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

<ul><li>Bloom Energy's second quarter 2025 results highlighted both robust growth and certain areas of strategic focus.</li><li>The call was led by CEO K.R. Sridhar, who shared that this was the most profitable second quarter in the company's history.</li><li>Bloom Energy is seeing increased demand driven by the shift towards AI and data center needs for reliable and rapidly deployable power solutions.</li></ul>

Bloom Energy's second quarter 2025 results highlighted both robust growth and certain areas of strategic focus.The call was led by CEO K.R. Sridhar, who shared that this was the most profitable second quarter in the company's history.Bloom Energy is seeing increased demand driven by the shift towards AI and data center needs for reliable and rapidly deployable power solutions.

Bloom Energy: New Market Opportunities Enhancing Global Footprint In The Clean Energy Sector!

Forensic Analyst, Trudence Capital Advisors

Nitin Mangal

Forensic Analyst

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

Forensic Accounting

<ul>
<li>
<a href="https://www.smartkarma.com/entities/mtar-technologies-private-limited" target="_blank" data-smartkarma-citation="entities:40912:1" rel="noopener">MTAR Technologies (MTARTECH IN)</a>  is a precision engineered company that caters to customers in clean energy, Space, Defense sectors, etc. </li>
<li>The company has done well over the last few years in terms of securing business, however there are concerns on the margins end, working capital and cash generation. </li>
<li>There also exists a high business risk in terms of customer concentration since more than 75% of the revenues (F23) come from one single entity.</li>
</ul>



MTAR Technologies (MTARTECH IN)  is a precision engineered company that caters to customers in clean energy, Space, Defense sectors, etc. 
The company has done well over the last few years in terms of securing business, however there are concerns on the margins end, working capital and cash generation. 
There also exists a high business risk in terms of customer concentration since more than 75% of the revenues (F23) come from one single entity.


Fundamental Short Selling Research

Eric Fernandez, CFA

TwoRiversAnalytics

<ul>
<li>This model seeks companies facing dangerously high leverage coupled with negative or declining cash flows.  It considers interest expense, capex and short term maturities for additional input. </li>
<li>The companies may not be viable given cash flows and capital structures.  These shorts tend to have  higher betas  and can have strong down moves as the crisis is recognized.</li>
<li>This week we flag: Fastly, Affirm Holdings, Bloom Energy, Wynn Resorts</li>
</ul>


This model seeks companies facing dangerously high leverage coupled with negative or declining cash flows.  It considers interest expense, capex and short term maturities for additional input. 
The companies may not be viable given cash flows and capital structures.  These shorts tend to have  higher betas  and can have strong down moves as the crisis is recognized.
This week we flag: Fastly, Affirm Holdings, Bloom Energy, Wynn Resorts


Solvency Risk Short Candidates: Fastly, Affirm Holdings, Bloom Energy, Wynn Resorts

United States

Bloom Energy Corporation manufactures power generation equipment. The Company offers on-site power generation systems that utilizes fuel cell technology to generate electricity. Bloom Energy serves banking, health care, data centers, media and communication, food and beverage, logistics, technology, and utilities industries in the United States.

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Bloom Energy Corp (BE US)

ICLN’s Upward Momentum to Last Longer as Investors Pivot to Clean Energy

ICLN has seen a 35% surge due to record renewable generation, strong earnings, and capital rotation from fossil fuels, indicating a shift towards...

Mint Finance

Bloom Energy: New Market Opportunities Enhancing Global Footprint In The Clean Energy Sector!

Bloom Energy's second quarter 2025 results highlighted both robust growth and certain areas of strategic focus. The call was led by CEO K.R....

Baptista Research

MTAR Technologies- Forensic Analysis

MTAR Technologies excels in precision engineering for clean energy, Space, and Defense sectors, but faces challenges with margins, working...

Nitin Mangal

Solvency Risk Short Candidates: Fastly, Affirm Holdings, Bloom Energy, Wynn Resorts

This model seeks companies facing dangerously high leverage coupled with negative or declining cash flows. This week we flag: Fastly, Affirm...

Eric Fernandez, CFA

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

ICLN’s Upward Momentum to Last Longer as Investors Pivot to Clean Energy

​ICLN has seen a 35% surge due to record renewable generation, strong earnings, and capital rotation from fossil fuels, indicating a shift towards...

Mint Finance

Bloom Energy: New Market Opportunities Enhancing Global Footprint In The Clean Energy Sector!

Bloom Energy's second quarter 2025 results highlighted both robust growth and certain areas of strategic focus. The call was led by CEO K.R....

Baptista Research

MTAR Technologies- Forensic Analysis

​MTAR Technologies excels in precision engineering for clean energy, Space, and Defense sectors, but faces challenges with margins, working...

Nitin Mangal

Solvency Risk Short Candidates: Fastly, Affirm Holdings, Bloom Energy, Wynn Resorts

This model seeks companies facing dangerously high leverage coupled with negative or declining cash flows. This week we flag: Fastly, Affirm...

Eric Fernandez, CFA

ICLN has seen a 35% surge due to record renewable generation, strong earnings, and capital rotation from fossil fuels, indicating a shift towards...

MTAR Technologies excels in precision engineering for clean energy, Space, and Defense sectors, but faces challenges with margins, working...