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

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

TSE Tokyo Price Index TOPIX / Technical Analysis

<ul>
<li>We continue to believe a 1-4-month pullback/consolidation is ongoing. Important supports have been violated, including $110 on MSCI ACWI (ACWI-US) and $41 on MSCI EM (EEM-US).</li>
<li>We're shifting our outlook to neutral on $ACWI after being bullish since early-November 2023. Major price breakdowns combined with deteriorating market dynamics have increased the odds of a topping pattern.</li>
<li>Also downgrading Japan to market weight. 7/25/24 we said "Japan's TOPIX breaking below 2800-2815 is near-term bearish, suggests it could pull back to its long-term uptrend, or worse."</li>
</ul>


We continue to believe a 1-4-month pullback/consolidation is ongoing. Important supports have been violated, including $110 on MSCI ACWI (ACWI-US) and $41 on MSCI EM (EEM-US).
We're shifting our outlook to neutral on $ACWI after being bullish since early-November 2023. Major price breakdowns combined with deteriorating market dynamics have increased the odds of a topping pattern.
Also downgrading Japan to market weight. 7/25/24 we said "Japan's TOPIX breaking below 2800-2815 is near-term bearish, suggests it could pull back to its long-term uptrend, or worse."


Downgrading Japan; Stay Defensive; Downgrading Outlook on Global Equities $ACWI to Neutral

India Equity Analyst - Fundamental & Thematic, Beat the Street

Sudarshan Bhandari

India Equity Analyst - Fundamental & Thematic

<ul>
<li>Tata Motors plans to split into TML Commercial Vehicles and a merged PV, EV, and JLR entity, creating focused companies.</li>
<li>TVS Motor's July sales rose 9%, with EV sales soaring 61%, reflecting strong growth.</li>
<li>Hero FinCorp seeks INR 3,668 crore through an IPO, aiming to boost capital for lending activities.</li>
</ul>


Tata Motors plans to split into TML Commercial Vehicles and a merged PV, EV, and JLR entity, creating focused companies.
TVS Motor's July sales rose 9%, with EV sales soaring 61%, reflecting strong growth.
Hero FinCorp seeks INR 3,668 crore through an IPO, aiming to boost capital for lending activities.


# 40 India Insight: Tata Motors Demerger, TVS Motor Rise, Hero FinCorp Files DRHP

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.

Equity Bottom-Up

<ul><li>Our inferences from DMART’s FY24 annual analyst meet were threefold – (1) pace of store expansion will be a key monitorable, the bottleneck being the availability of unit economics-friendly real estate.</li><li>Currently primed to add 40-45 stores annually. This could keep the ask from SSSG for growth high (HSIE: 18% CAGR over FY24-27) in a disinflationary environment.</li><li>(2) GM profile likely to be stable (14-15%) while focus will be to improve revenue/SKU, ergo sourcing margins which could then be passed on to end consumer to earn higher sales density. </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.

Our inferences from DMART’s FY24 annual analyst meet were threefold – (1) pace of store expansion will be a key monitorable, the bottleneck being the availability of unit economics-friendly real estate.Currently primed to add 40-45 stores annually. This could keep the ask from SSSG for growth high (HSIE: 18% CAGR over FY24-27) in a disinflationary environment.(2) GM profile likely to be stable (14-15%) while focus will be to improve revenue/SKU, ergo sourcing margins which could then be passed on to end consumer to earn higher sales density. 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.

Avenue Supermarts: Pick-Up in Store Expansion Key. Maintain REDUCE

<ul>
<li>Avenue Supermarts: Revenue grew 18.4% to INR 137.12bn in Q1</li>
<li>Sales density back to pre-pandemic times (up 4% YoY, ~INR35.62k/sq ft in Q1FY25)</li>
<li>As expected, share from GM&amp;A continues to normalise upwards which is reflected in improving GMs (up 34bps to 14.9%, in-line)</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.


Avenue Supermarts: Revenue grew 18.4% to INR 137.12bn in Q1
Sales density back to pre-pandemic times (up 4% YoY, ~INR35.62k/sq ft in Q1FY25)
As expected, share from GM&amp;A continues to normalise upwards which is reflected in improving GMs (up 34bps to 14.9%, in-line)

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.

India

Avenue Supermarts Ltd. (ASL) owns and operates hypermarkets and supermarkets. The Company offers products such as garments, footwears, toys and games, bed and bath linen, stationery, grocery, household, and electronic products. ASL operates throughout India.

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Avenue Supermarts Ltd (DMART 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

Downgrading Japan; Stay Defensive; Downgrading Outlook on Global Equities $ACWI to Neutral

Downgrading Japan TOPIX, Nikkei; Stay Defensive; Downgrading Outlook on Global Equities $ACWI $EEM to Neutral; Many Risk-Off Signals increase odds...

Vermilion Research

# 40 India Insight: Tata Motors Demerger, TVS Motor Rise, Hero FinCorp Files DRHP

Tata Motors to split for focused operations, TVS Motor's EV sales surge, Hero FinCorp aims to raise capital through IPO.

Sudarshan Bhandari

Avenue Supermarts: Pick-Up in Store Expansion Key. Maintain REDUCE

Our inferences from DMART’s FY24 annual analyst meet were threefold – (1) pace of store expansion will be a key monitorable

HDFC Securities

Avenue Supermarts - In-Line Print

Avenue Supermarts: Revenue grew 18.4% to INR 137.12bn in Q1. Sales density back to pre-pandemic times (up 4% YoY, ~INR35.62k/sq ft in Q1FY25)

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

Downgrading Japan; Stay Defensive; Downgrading Outlook on Global Equities $ACWI to Neutral

Downgrading Japan TOPIX, Nikkei; Stay Defensive; Downgrading Outlook on Global Equities $ACWI $EEM to Neutral; Many Risk-Off Signals increase odds...

Vermilion Research

# 40 India Insight: Tata Motors Demerger, TVS Motor Rise, Hero FinCorp Files DRHP

​Tata Motors to split for focused operations, TVS Motor's EV sales surge, Hero FinCorp aims to raise capital through IPO.

Sudarshan Bhandari

Avenue Supermarts: Pick-Up in Store Expansion Key. Maintain REDUCE

Our inferences from DMART’s FY24 annual analyst meet were threefold – (1) pace of store expansion will be a key monitorable

HDFC Securities

Avenue Supermarts - In-Line Print

Avenue Supermarts: Revenue grew 18.4% to INR 137.12bn in Q1. Sales density back to pre-pandemic times (up 4% YoY, ~INR35.62k/sq ft in Q1FY25)

HDFC Securities

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

Tata Motors to split for focused operations, TVS Motor's EV sales surge, Hero FinCorp aims to raise capital through IPO.