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>Despite a 100-bps rate cut by RBI, banks face margin pressure as lending rates fall faster than deposit repricing. </li>
<li>Credit growth has slowed sharply, while deposit growth is improving unevenly - tightening liquidity conditions, especially for private banks and SFBs.</li>
<li>Valuations remain attractive despite near-term earnings stress, supported by stable asset quality, treasury gains, and long-term confidence in sector fundamentals.</li>
</ul>


Despite a 100-bps rate cut by RBI, banks face margin pressure as lending rates fall faster than deposit repricing. 
Credit growth has slowed sharply, while deposit growth is improving unevenly - tightening liquidity conditions, especially for private banks and SFBs.
Valuations remain attractive despite near-term earnings stress, supported by stable asset quality, treasury gains, and long-term confidence in sector fundamentals.


Q1FY26 Banking Sector Report: How Repo Rate Cuts Are Reshaping the Sector?

Equity Bottom-Up

Geojit Financial Services / Equity Bottom-Up

<ul>
<li>Geojit is targeting INR 20,000 crore in PMS AUM within three years from INR 1200 Crore, backed by new leadership, expanded RM hiring, and deep NRI-retail presence.</li>
<li>This signals a shift from cyclical broking to stable, high-margin wealth management boosting recurring income and long-term profitability.</li>
<li>Geojit is evolving into a full-stack wealth platform, making it a re-rating candidate if it delivers on PMS scale-up and sustains income diversification.</li>
</ul>


Geojit is targeting INR 20,000 crore in PMS AUM within three years from INR 1200 Crore, backed by new leadership, expanded RM hiring, and deep NRI-retail presence.
This signals a shift from cyclical broking to stable, high-margin wealth management boosting recurring income and long-term profitability.
Geojit is evolving into a full-stack wealth platform, making it a re-rating candidate if it delivers on PMS scale-up and sustains income diversification.


The Beat Ideas: Geojit Financial- Riding on Its Customer Base to Build a ₹20,000 Cr Wealth Business

Market & Forensics Analyst, Beat the Street

Nimish Maheshwari

Market & Forensics Analyst

<ul>
<li>SMBC, a major Japanese bank, is buying a 20% stake in Yes Bank for INR 13,483 crore, marking a significant move towards strengthening Yes Bank's recovery and future growth.</li>
<li>It provides SMBC direct access to India's growing banking sector and potential for strategic collaboration.</li>
<li>The partnership enhances Yes Bank's stability, governance, and access to global markets, positioning it for further growth. SMBC’s involvement could pave the way for future capital support and operational improvements.</li>
</ul>


SMBC, a major Japanese bank, is buying a 20% stake in Yes Bank for INR 13,483 crore, marking a significant move towards strengthening Yes Bank's recovery and future growth.
It provides SMBC direct access to India's growing banking sector and potential for strategic collaboration.
The partnership enhances Yes Bank's stability, governance, and access to global markets, positioning it for further growth. SMBC’s involvement could pave the way for future capital support and operational improvements.


SMBC's Strategic Entry into Yes Bank: A Look at the Backstory and Future

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

<ul>
<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> 's shares saw a sharp fall of 7% on Monday.</li>
<li>The fact that RBI shortened the tenure of MD &amp; CEO to two years baffled the market. </li>
<li>Shortening of tenures by the RBI have been seen earlier also for BFSIs. The move does not explicitly indicate any fundamental deficiency, hence investors should not be too worried.</li>
</ul>



Indusind Bank (IIB IN) 's shares saw a sharp fall of 7% on Monday.
The fact that RBI shortened the tenure of MD &amp; CEO to two years baffled the market. 
Shortening of tenures by the RBI have been seen earlier also for BFSIs. The move does not explicitly indicate any fundamental deficiency, hence investors should not be too worried.


IndusInd Bank- RBI's Decision May Not Be a Red Flag

External broker reports(aggregated public sources), ICICI Securities Ltd

ICICI Securities Limited

External broker reports(aggregated public sources)

ICICI Securities Ltd

ICICI Securities Limited provides investment services. The Company provides corporate and investment banking, securities, wealth management, retail brokerage, initial public offerings, and advisory services. 

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>CSB Bank is a south based private sector bank with Kerala contributing ~30% of total advances.</li><li>Changed strategy in various aspects of lending have led to transformation and improved performance in the past few years.</li><li>Gold, SME key lending segments comprising ~44%, ~13%, respectively, of book </li></ul>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.

CSB Bank is a south based private sector bank with Kerala contributing ~30% of total advances.Changed strategy in various aspects of lending have led to transformation and improved performance in the past few years.Gold, SME key lending segments comprising ~44%, ~13%, respectively, of book 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.

CSB Bank - Treasury Losses Mar PAT; Outlook Remains Healthy…

India

CSB Bank Limited operates as a bank. The Bank offers current and savings accounts, loans, insurance, cards, money transfer, currency exchange, and other related services. CSB Bank serves customers in India.

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CSB Bank Ltd (CSBBANK IN)

Q1FY26 Banking Sector Report: How Repo Rate Cuts Are Reshaping the Sector?

RBI's rate cut leads to margin pressure for banks as lending rates drop faster than deposit rates, impacting credit growth and liquidity...

Sudarshan Bhandari

The Beat Ideas: Geojit Financial- Riding on Its Customer Base to Build a ₹20,000 Cr Wealth Business

Geojit aims to grow PMS AUM to INR 20,000 crore in three years, shifting focus to wealth management for long-term profitability and income...

Sudarshan Bhandari

SMBC's Strategic Entry into Yes Bank: A Look at the Backstory and Future

Japanese bank SMBC's 20% stake purchase in Yes Bank for INR 13,483 crore strengthens the Indian bank's recovery and growth prospects, while...

Nimish Maheshwari

IndusInd Bank- RBI's Decision May Not Be a Red Flag

Shortening of tenures by the RBI have been common for BFSIs. The move does not explicitly indicate any fundamental deficiency which is why...

Nitin Mangal

CSB Bank - Treasury Losses Mar PAT; Outlook Remains Healthy…

Changed strategy in various aspects of lending have led to transformation and improved performance in the past few years.

ICICI Securities Limited

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Q1FY26 Banking Sector Report: How Repo Rate Cuts Are Reshaping the Sector?

​RBI's rate cut leads to margin pressure for banks as lending rates drop faster than deposit rates, impacting credit growth and liquidity...

Sudarshan Bhandari

The Beat Ideas: Geojit Financial- Riding on Its Customer Base to Build a ₹20,000 Cr Wealth Business

​Geojit aims to grow PMS AUM to INR 20,000 crore in three years, shifting focus to wealth management for long-term profitability and income...

Sudarshan Bhandari

SMBC's Strategic Entry into Yes Bank: A Look at the Backstory and Future

​Japanese bank SMBC's 20% stake purchase in Yes Bank for INR 13,483 crore strengthens the Indian bank's recovery and growth prospects, while...

Nimish Maheshwari

IndusInd Bank- RBI's Decision May Not Be a Red Flag

Shortening of tenures by the RBI have been common for BFSIs. The move does not explicitly indicate any fundamental deficiency which is why...

Nitin Mangal

CSB Bank - Treasury Losses Mar PAT; Outlook Remains Healthy…

Changed strategy in various aspects of lending have led to transformation and improved performance in the past few years.

ICICI Securities Limited

RBI's rate cut leads to margin pressure for banks as lending rates drop faster than deposit rates, impacting credit growth and liquidity...

Geojit aims to grow PMS AUM to INR 20,000 crore in three years, shifting focus to wealth management for long-term profitability and income...

Japanese bank SMBC's 20% stake purchase in Yes Bank for INR 13,483 crore strengthens the Indian bank's recovery and growth prospects, while...