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>SEBI has overhauled F&amp;O eligibility criteria, introducing stricter norms for stock inclusion and exclusion for more active stocks. </li>
<li>As per calculation, New criteria will include 80 stocks and exclude 18 to 23, impacting market liquidity and stability.</li>
<li>This will lead to the creation of a more robust, transparent, and liquid for the F&amp;O Market.</li>
</ul>


SEBI has overhauled F&amp;O eligibility criteria, introducing stricter norms for stock inclusion and exclusion for more active stocks. 
As per calculation, New criteria will include 80 stocks and exclude 18 to 23, impacting market liquidity and stability.
This will lead to the creation of a more robust, transparent, and liquid for the F&amp;O Market.


SEBI's F&O Criteria Revision & Its Impact

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, 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

Bajaj Housing Finance / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/bajaj-housing-finance" target="_blank" data-smartkarma-citation="entities:43675:1" rel="noopener">Bajaj Housing Finance (BHF IN)</a> is looking to raise around US$830m in its upcoming India IPO.</li>
<li>BHF is a non-deposit taking housing finance company engaged in mortgage lending since FY18. Its mortgage products include home loans, loans against property, lease rental discounting and developer financing.</li>
<li>We have looked at the company’s past performance and undertaken a peer comparison in our earlier notes. In this note we talk about valuations.</li>
</ul>



Bajaj Housing Finance (BHF IN) is looking to raise around US$830m in its upcoming India IPO.
BHF is a non-deposit taking housing finance company engaged in mortgage lending since FY18. Its mortgage products include home loans, loans against property, lease rental discounting and developer financing.
We have looked at the company’s past performance and undertaken a peer comparison in our earlier notes. In this note we talk about valuations.


Bajaj Housing Finance Pre-IPO - Thoughts on Valuation

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

<ul>
<li>This Insight focuses on PSU owned Housing Finance companies - <a href="https://www.smartkarma.com/entities/pnb-housing-finance-ltd" target="_blank" data-smartkarma-citation="entities:23613:1" rel="noopener">PNB Housing Finance Ltd (PNBHOUSI IN)</a> , <a href="https://www.smartkarma.com/entities/lic-housing-finance-ltd" target="_blank" data-smartkarma-citation="entities:15667:1" rel="noopener">LIC Housing Finance (LICHF IN)</a> and <a href="https://www.smartkarma.com/entities/can-fin-homes-ltd" target="_blank" data-smartkarma-citation="entities:17447:1" rel="noopener">Can Fin Homes (CANF IN)</a>. </li>
<li>PNB Housing aims to focus on affordable housing, LIC Housing Finance is possibly struggling due to its size and a conservative risk appetite.</li>
<li>Can Fin Homes exhibits some serious questions regarding its internal controls and underwriting policies.</li>
</ul>


This Insight focuses on PSU owned Housing Finance companies - PNB Housing Finance Ltd (PNBHOUSI IN) , LIC Housing Finance (LICHF IN) and Can Fin Homes (CANF IN). 
PNB Housing aims to focus on affordable housing, LIC Housing Finance is possibly struggling due to its size and a conservative risk appetite.
Can Fin Homes exhibits some serious questions regarding its internal controls and underwriting policies.


Narrative and Numbers | Housing Finance - PSUs | FY24

<ul>
<li>
<a href="https://www.smartkarma.com/entities/bajaj-housing-finance" target="_blank" data-smartkarma-citation="entities:43675:1" rel="noopener">Bajaj Housing Finance (BHF IN)</a> is looking to raise around US$830m in its upcoming India IPO.</li>
<li>BHF is a non-deposit taking housing finance company engaged in mortgage lending since FY18. Its mortgage products include home loans, loans against property, lease rental discounting and developer financing.</li>
<li>We have looked at the company’s past performance in our earlier notes. In this note we will undertake a peer comparison.</li>
</ul>



Bajaj Housing Finance (BHF IN) is looking to raise around US$830m in its upcoming India IPO.
BHF is a non-deposit taking housing finance company engaged in mortgage lending since FY18. Its mortgage products include home loans, loans against property, lease rental discounting and developer financing.
We have looked at the company’s past performance in our earlier notes. In this note we will undertake a peer comparison.


Bajaj Housing Finance Pre-IPO - Peer Comparison - Bigger and Faster

External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

External broker reports(aggregated public sources)

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Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>Oberoi Realty: Oberoi Realty (ORL) registered presales of INR 10.6bn (+124%/-40% YoY/QoQ), it was largely backed by sales from 360 West contributing &gt;40% of presales followed by Elysian and Sky City</li><li>360W saw a good amount of traction in Q1FY25 as six units were sold (vs 3units in the previous quarter totaling INR 4.8bn marking a 118% QoQ growth), we believe that ORL is likely to be able to sell its inventory over the next 24-30 months</li><li>The Pokhran project is set to launch in Q3FY25 during the festive season, with approvals and a ready-show apartment in place</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Oberoi Realty: Oberoi Realty (ORL) registered presales of INR 10.6bn (+124%/-40% YoY/QoQ), it was largely backed by sales from 360 West contributing &gt;40% of presales followed by Elysian and Sky City360W saw a good amount of traction in Q1FY25 as six units were sold (vs 3units in the previous quarter totaling INR 4.8bn marking a 118% QoQ growth), we believe that ORL is likely to be able to sell its inventory over the next 24-30 monthsThe Pokhran project is set to launch in Q3FY25 during the festive season, with approvals and a ready-show apartment in placeContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

HSIE Results Daily: Oberoi Realty, JK Cement, Can Fin Homes, Route Mobile

India

Can Fin Homes Ltd provides housing finance.  The company offers long term housing loans to middle and lower income individuals or corporate bodies for construction and acquiring houses/flats.

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Can Fin Homes (CANF IN)

SEBI's F&O Criteria Revision & Its Impact

SEBI introduces stricter F&O eligibility criteria, impacting market liquidity and stability by including 80 stocks and excluding 18 to 23. #SEBI...

Nimish Maheshwari

Bajaj Housing Finance Pre-IPO - Thoughts on Valuation

The deal is now live, with anchor books set to open at the end of the week and the remaining books to open over the coming week.

Sumeet Singh

Narrative and Numbers | Housing Finance - PSUs | FY24

PNB Housing focuses on affordable housing, LIC Housing Finance struggles with size and risk appetite, Can Fin Homes faces questions on internal...

Pranav Bhavsar

Bajaj Housing Finance Pre-IPO - Peer Comparison - Bigger and Faster

Bajaj Housing Finance (BHF IN) is looking to raise around US$830m in its upcoming India IPO. In this note, we undertake a peer comparison.

Sumeet Singh

HSIE Results Daily: Oberoi Realty, JK Cement, Can Fin Homes, Route Mobile

Given the expected robust cash flows from ready-to-move-in inventory in 360W and new launches expected in FY25 along with new BD, we remain...

HDFC Securities

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

SEBI's F&O Criteria Revision & Its Impact

​SEBI introduces stricter F&O eligibility criteria, impacting market liquidity and stability by including 80 stocks and excluding 18 to 23. #SEBI...

Nimish Maheshwari

Bajaj Housing Finance Pre-IPO - Thoughts on Valuation

The deal is now live, with anchor books set to open at the end of the week and the remaining books to open over the coming week.

Sumeet Singh

Narrative and Numbers | Housing Finance - PSUs | FY24

PNB Housing focuses on affordable housing, LIC Housing Finance struggles with size and risk appetite, Can Fin Homes faces questions on internal...

Pranav Bhavsar

Bajaj Housing Finance Pre-IPO - Peer Comparison - Bigger and Faster

Bajaj Housing Finance (BHF IN) is looking to raise around US$830m in its upcoming India IPO. In this note, we undertake a peer comparison.

Sumeet Singh

HSIE Results Daily: Oberoi Realty, JK Cement, Can Fin Homes, Route Mobile

Given the expected robust cash flows from ready-to-move-in inventory in 360W and new launches expected in FY25 along with new BD, we remain...

HDFC Securities

SEBI introduces stricter F&O eligibility criteria, impacting market liquidity and stability by including 80 stocks and excluding 18 to 23. #SEBI...