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

Event-Driven

National Stock Exchange of India / Event-Driven

National Stock Exchange of India (NSE IN)

<ul>
<li>Starting September 1, 2025, BSE will shift its weekly expiry to Thursday, while NSE's weekly expiry will move to Tuesday, reducing overlap between the two major exchanges. </li>
<li>The move aims to streamline operations, reduce volatility, and increase uniformity across exchanges, aligning with global standards and institutional preferences. </li>
<li>
BSE's shift to Thursday expiry could benefit its market share, but NSE’s Tuesday expiry may help it regain some of the ground lost in recent months, intensifying competition.</li>
</ul>


Starting September 1, 2025, BSE will shift its weekly expiry to Thursday, while NSE's weekly expiry will move to Tuesday, reducing overlap between the two major exchanges. 
The move aims to streamline operations, reduce volatility, and increase uniformity across exchanges, aligning with global standards and institutional preferences. 

BSE's shift to Thursday expiry could benefit its market share, but NSE’s Tuesday expiry may help it regain some of the ground lost in recent months, intensifying competition.


How SEBI's Expiry Day Overhaul Impacts NSE & BSE ?

Equity Analyst - Asia Consumer Sector, Investory

Devi Subhakesan

Equity Analyst - Asia Consumer Sector

ASIA CONSUMER: INSIGHTS AND INVESTMENT IDEAS

Investory

Investory is a Singapore-based boutique independent equity research firm founded in January 2017 with a primary focus on consumption themes across Asia-Pacific.

We aim to generate investible ideas based on consumption trends and outlook. We screen our ideas on several parameters - product potential, long-term growth and management commitment being the most critical.  We follow a fundamental analysis approach in our stock selection process and are not restricted by market cap.

We aspire to grow into a leading source of unbiased research, free of conflict of interest, for investors yearning for independent and disciplined analysis. 

We also undertake bespoke research mandates to support our Institutional clients’ investment needs.

Our team comprises of professionals with extensive experience in the Asian equity markets, in areas ranging from research, servicing institutional clients and investment management.

Equity Bottom-Up

<ul>
<li>Reported surge in listing interest on <a href="https://www.smartkarma.com/entities/singapore-exchange-ltd" target="_blank" data-smartkarma-citation="entities:1047:1" rel="noopener">SGX (SGX SP)</a> driven by escalating U.S.- China trade tensions and associated geopolitical uncertainties.</li>
<li>Singapore’s proactive policy toolkit announced in February 2025  offer issuers both cost savings and regulatory certainty and could play a role in attracting more companies to list in Singapore.</li>
<li>An uptick in listings on the Singapore Exchange (SGX) can set off a virtuous cycle, strengthen valuation multiples  and lead to upward revisions to 2026 earnings forecasts.</li>
</ul>


Reported surge in listing interest on SGX (SGX SP) driven by escalating U.S.- China trade tensions and associated geopolitical uncertainties.
Singapore’s proactive policy toolkit announced in February 2025  offer issuers both cost savings and regulatory certainty and could play a role in attracting more companies to list in Singapore.
An uptick in listings on the Singapore Exchange (SGX) can set off a virtuous cycle, strengthen valuation multiples  and lead to upward revisions to 2026 earnings forecasts.


SGX Group (SGX SP): Likely More Listings. Triggered by Trade Tensions, Tax Perks

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

Index Rebalance

<ul>
<li>With the review period complete, there could be two changes for the <a href="https://www.smartkarma.com/entities/s-p-bse-sensex-index" target="_blank" data-smartkarma-citation="entities:31494:1" rel="noopener">S&amp;P BSE SENSEX Index (SENSEX INDEX)</a> at the June rebalance.</li>
<li>
<a href="https://www.smartkarma.com/entities/trent-ltd" target="_blank" data-smartkarma-citation="entities:8410:1" rel="noopener">Trent Ltd (TRENT IN)</a> and <a href="https://www.smartkarma.com/entities/bharat-electronics-ltd" target="_blank" data-smartkarma-citation="entities:6636:1" rel="noopener">Bharat Electronics (BHE IN)</a> are high probability inclusions while <a href="https://www.smartkarma.com/entities/indusind-bank-ltd" target="_blank" data-smartkarma-citation="entities:1558:1" rel="noopener">Indusind Bank (IIB IN)</a> and <a href="https://www.smartkarma.com/entities/nestle-india-ltd" target="_blank" data-smartkarma-citation="entities:13101:1" rel="noopener">Nestle India (NEST IN)</a> are high probability deletions.</li>
<li>
<a href="https://www.smartkarma.com/entities/indusind-bank-ltd" target="_blank" data-smartkarma-citation="entities:1558:1" rel="noopener">Indusind Bank (IIB IN)</a> is also a potential <a href="https://www.smartkarma.com/entities/nifty-index" target="_blank" data-smartkarma-citation="entities:23617:1" rel="noopener">NIFTY Index (NIFTY INDEX)</a> deletion in September and there will be continued pressure on the stock.</li>
</ul>


With the review period complete, there could be two changes for the S&amp;P BSE SENSEX Index (SENSEX INDEX) at the June rebalance.

Trent Ltd (TRENT IN) and Bharat Electronics (BHE IN) are high probability inclusions while Indusind Bank (IIB IN) and Nestle India (NEST IN) are high probability deletions.

Indusind Bank (IIB IN) is also a potential NIFTY Index (NIFTY INDEX) deletion in September and there will be continued pressure on the stock.


SENSEX Index Rebalance Preview: Trent, Bharat Electronics Could Replace IndusInd Bank, Nestle

<ul>
<li>
<a href="https://www.smartkarma.com/entities/swiggy-limited" target="_blank" data-smartkarma-citation="entities:35630:1" rel="noopener">Swiggy (SWIGGY IN)</a> listed in November 2024 and around 85% of the shares outstanding (US$7.6bn) will unlock on 13 May.</li>
<li>Nearly 80% of the shares that unlock are held by pre-IPO PE/VC investors and they are 100% in the money in most cases. Expect the selldown to commence soon.</li>
<li>
<a href="https://www.smartkarma.com/entities/swiggy-limited" target="_blank" data-smartkarma-citation="entities:35630:1" rel="noopener">Swiggy (SWIGGY IN)</a> should be added to one global index in June, while inclusion in the other global index will require a small price increase or selling from PE/VC investors.</li>
</ul>



Swiggy (SWIGGY IN) listed in November 2024 and around 85% of the shares outstanding (US$7.6bn) will unlock on 13 May.
Nearly 80% of the shares that unlock are held by pre-IPO PE/VC investors and they are 100% in the money in most cases. Expect the selldown to commence soon.

Swiggy (SWIGGY IN) should be added to one global index in June, while inclusion in the other global index will require a small price increase or selling from PE/VC investors.


Swiggy (SWIGGY IN): US$7.6bn Lock-Up Expiry & Index Inclusion

India Equity Analyst - Fundamental & Thematic, Beat the Street

Sudarshan Bhandari

India Equity Analyst - Fundamental & Thematic

Equity Derivatives

<ul>
<li>SEBI's March 27 proposal suggests standardising expiry dates: Thursdays for <a href="https://www.smartkarma.com/entities/bombay-stock-exchange" target="_blank" data-smartkarma-citation="entities:23694:1" rel="noopener">Bombay Stock Exchange (BSE IN)</a> and Tuesdays for <a href="https://www.smartkarma.com/entities/national-stock-exchange" target="_blank" data-smartkarma-citation="entities:23751:1" rel="noopener">National Stock Exchange (NSEIN IN)</a> .</li>
<li>NSE's previous strategic expiry days aimed at better liquidity, marginalising BSE's Tuesday expiry, potentially impacting it's trading volumes.</li>
<li>Post-Consultation was released, NSE faces a setback, deferring its planned monday expiry shift for Nifty contracts, indirectly protecting BSE from market share erosion.</li>
</ul>


SEBI's March 27 proposal suggests standardising expiry dates: Thursdays for Bombay Stock Exchange (BSE IN) and Tuesdays for National Stock Exchange (NSEIN IN) .
NSE's previous strategic expiry days aimed at better liquidity, marginalising BSE's Tuesday expiry, potentially impacting it's trading volumes.
Post-Consultation was released, NSE faces a setback, deferring its planned monday expiry shift for Nifty contracts, indirectly protecting BSE from market share erosion.


How SEBI's Expiry Date Proposal Could Halt BSE’s Market Share Erosion?

India

BSE Ltd. is Asia's oldest stock exchange, providing a transparent market for trading in equities, debt instruments, derivatives, mutual funds, and other securities. It offers services including listing, trading, clearing, settlement, and data services, and operates platforms for SMEs and mutual fund distribution. The company is headquartered in Mumbai, India, and was founded in 1875.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

BSE (BSE IN)

How SEBI's Expiry Day Overhaul Impacts NSE & BSE ?

Starting Sept 1, 2025, BSE will move weekly expiry to Thursday, NSE to Tuesday, reducing overlap and aligning with global standards, potentially...

Nimish Maheshwari

SGX Group (SGX SP): Likely More Listings. Triggered by Trade Tensions, Tax Perks

An uptick in listings on the SGX can set off a virtuous cycle leading to higher cash-flow generation - supporting a potential re‑rating of its...

Devi Subhakesan

SENSEX Index Rebalance Preview: Trent, Bharat Electronics Could Replace IndusInd Bank, Nestle

With the review period complete, Trent and Bharat Electronics could replace IndusInd Bank and Nestle in the Sensex in June. IndusInd Bank is also a...

Brian Freitas

Swiggy (SWIGGY IN): US$7.6bn Lock-Up Expiry & Index Inclusion

There is a US$7.6bn lock-up expiry in Swiggy on 12 May - 80% of that is PE/VC, so expect selling. The stock could remain under pressure but PE/VC...

Brian Freitas

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

How SEBI's Expiry Day Overhaul Impacts NSE & BSE ?

​Starting Sept 1, 2025, BSE will move weekly expiry to Thursday, NSE to Tuesday, reducing overlap and aligning with global standards, potentially...

Nimish Maheshwari

SGX Group (SGX SP): Likely More Listings. Triggered by Trade Tensions, Tax Perks

An uptick in listings on the SGX can set off a virtuous cycle leading to higher cash-flow generation - supporting a potential re‑rating of its...

Devi Subhakesan

SENSEX Index Rebalance Preview: Trent, Bharat Electronics Could Replace IndusInd Bank, Nestle

With the review period complete, Trent and Bharat Electronics could replace IndusInd Bank and Nestle in the Sensex in June. IndusInd Bank is also a...

Brian Freitas

Swiggy (SWIGGY IN): US$7.6bn Lock-Up Expiry & Index Inclusion

There is a US$7.6bn lock-up expiry in Swiggy on 12 May - 80% of that is PE/VC, so expect selling. The stock could remain under pressure but PE/VC...

Brian Freitas

How SEBI's Expiry Date Proposal Could Halt BSE’s Market Share Erosion?

​SEBI proposes standardising expiry dates for BSE and NSE, impacting liquidity and trading volumes, with NSE facing setback in shifting to Monday...

Sudarshan Bhandari

Starting Sept 1, 2025, BSE will move weekly expiry to Thursday, NSE to Tuesday, reducing overlap and aligning with global standards, potentially...

SEBI proposes standardising expiry dates for BSE and NSE, impacting liquidity and trading volumes, with NSE facing setback in shifting to Monday...