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>India is set for its biggest GST overhaul since 2017, with a shift to a dual-slab GST system (5% and 18%) to simplify tax structures, reduce consumer prices, boost consumption</li>
<li>The proposed rate cuts are likely to drive increased consumption, benefiting sectors like automobiles, cement, and consumer durables, and provide a multi-engine growth boost for the economy.</li>
<li>With the GST reform potentially lowering inflation, raising private sector investments, and stimulating discretionary spending, we see a positive impact on GDP growth by around 1.6-2% in the medium term.</li>
</ul>


India is set for its biggest GST overhaul since 2017, with a shift to a dual-slab GST system (5% and 18%) to simplify tax structures, reduce consumer prices, boost consumption
The proposed rate cuts are likely to drive increased consumption, benefiting sectors like automobiles, cement, and consumer durables, and provide a multi-engine growth boost for the economy.
With the GST reform potentially lowering inflation, raising private sector investments, and stimulating discretionary spending, we see a positive impact on GDP growth by around 1.6-2% in the medium term.


Thematic Report: Can Proposed GST Rate Cuts Revive Consumption Growth in India?

APAC IPOs & Placements, Aequitas Research

Akshat Shah

APAC 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

<ul>
<li>
<a href="https://www.smartkarma.com/entities/vikram-solar" target="_blank" data-smartkarma-citation="entities:36670:1" rel="noopener">Vikram Solar (0490158D IN)</a> is looking to raise about US$238m in its India IPO.</li>
<li>Vikram Solar is an integrated solar photo-voltaic modules producer and an integrated solar energy solutions provider offering engineering, procurement and construction services, and operations and maintenance services to its customers.</li>
<li>In our earlier notes, we have looked at the company’s past performance. In this note, we talk about the RHP updates, peer comp and implied valuations in the price range.</li>
</ul>



Vikram Solar (0490158D IN) is looking to raise about US$238m in its India IPO.
Vikram Solar is an integrated solar photo-voltaic modules producer and an integrated solar energy solutions provider offering engineering, procurement and construction services, and operations and maintenance services to its customers.
In our earlier notes, we have looked at the company’s past performance. In this note, we talk about the RHP updates, peer comp and implied valuations in the price range.


Vikram Solar IPO - RHP Updates, Peer Comp and Thoughts on Valuations

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

Bluestone Jewellery and Lifestyle Ltd (BJL) / Equity Capital Markets

Bluestone Jewellery and Lifestyle Ltd (BJL)

<ul>
<li>
<a href="https://www.smartkarma.com/entities/bluestone-jewellery-and-lifestyle-ltd-bjl" target="_blank" data-smartkarma-citation="entities:44176:1" rel="noopener">Bluestone Jewellery and Lifestyle Ltd (BJL)</a> raised around US$176m in its India IPO.</li>
<li>BJL offers contemporary lifestyle diamond, gold, platinum, and studded jewellery under its flagship brand. It is a digital-first direct-to-consumer (DTC) brand.</li>
<li>We have looked at the past performance and valuations in our previous note. In this note, we talk about the trading dynamics.</li>
</ul>



Bluestone Jewellery and Lifestyle Ltd (BJL) raised around US$176m in its India IPO.
BJL offers contemporary lifestyle diamond, gold, platinum, and studded jewellery under its flagship brand. It is a digital-first direct-to-consumer (DTC) brand.
We have looked at the past performance and valuations in our previous note. In this note, we talk about the trading dynamics.


Bluestone Jewellery IPO Trading - Tepid Demand

Knowledge Realty Trust / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/knowledge-realty-trust" target="_blank" data-smartkarma-citation="entities:44486:1" rel="noopener">Knowledge Realty Trust (258259D IN)</a> raised around US$551m in its India IPO. The trust undertook a pre-IPO placement round of around INR14bn (US$160m) in June 2025 as well.</li>
<li>Knowledge Realty Trust (KRT) owns and manages a high-quality office portfolio in India covering 87% of India's office supply and gross absorption between CY16-1QCY25, as per the CBRE report.</li>
<li>In this note, we will talk about the trading dynamics.</li>
</ul>



Knowledge Realty Trust (258259D IN) raised around US$551m in its India IPO. The trust undertook a pre-IPO placement round of around INR14bn (US$160m) in June 2025 as well.
Knowledge Realty Trust (KRT) owns and manages a high-quality office portfolio in India covering 87% of India's office supply and gross absorption between CY16-1QCY25, as per the CBRE report.
In this note, we will talk about the trading dynamics.


Knowledge Realty Trust IPO Trading - Decent Demand; Leads Past REIT Listings

JSW Cement Limited / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/jsw-cement-limited" target="_blank" data-smartkarma-citation="entities:43870:1" rel="noopener">JSW Cement Limited (9858514Z IN)</a> raised about US$410m in its India IPO.</li>
<li>JSW Cement (JSWC) is a cement manufacturing company in India focused on manufacturing green cementitious products comprising blended cement, ordinary portland cement, ground granulated blast furnace slag, among other products.</li>
<li>We have looked at the company’s past performance and valuations in our previous notes. In this note, we will talk about the trading dynamics.</li>
</ul>



JSW Cement Limited (9858514Z IN) raised about US$410m in its India IPO.
JSW Cement (JSWC) is a cement manufacturing company in India focused on manufacturing green cementitious products comprising blended cement, ordinary portland cement, ground granulated blast furnace slag, among other products.
We have looked at the company’s past performance and valuations in our previous notes. In this note, we will talk about the trading dynamics.


JSW Cement IPO Trading - Overall Demand Lags Recent Listings

India

Eternal Limited is an online restaurant guide and food ordering platform. The Company offers platform connects customers, restaurants, and delivery partners to search and discover restaurants, read and write customer generated reviews, order food delivery, book a table, and make payments while dining-out at restaurants. Eternal serves customers worldwide.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
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Eternal (ETERNAL IN)

Thematic Report: Can Proposed GST Rate Cuts Revive Consumption Growth in India?

India is revamping its GST system with dual-slab rates to simplify taxes, reduce prices, and boost consumption, potentially driving GDP growth by...

Nimish Maheshwari

Vikram Solar IPO - RHP Updates, Peer Comp and Thoughts on Valuations

Vikram Solar is looking to raise about US$238m in its India IPO. In this note, we talk about the RHP updates, peer comp and implied valuations in...

Akshat Shah

Bluestone Jewellery IPO Trading - Tepid Demand

Bluestone Jewellery and Lifestyle Ltd (BJL) raised around US$176m in its India IPO. In this note, we talk about the trading dynamics.

Sumeet Singh

Knowledge Realty Trust IPO Trading - Decent Demand; Leads Past REIT Listings

Knowledge Realty Trust (KRT) raised around US$551m in its India IPO. The market value of its assets stood at INR584.5bn (US$6.7bn), as of Mar'25....

Akshat Shah

JSW Cement IPO Trading - Overall Demand Lags Recent Listings

JSW Cement raised about US$410m in its India IPO. We have covered various aspects of the deal in our previous note. In this note, we will talk...

Akshat Shah

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Thematic Report: Can Proposed GST Rate Cuts Revive Consumption Growth in India?

​India is revamping its GST system with dual-slab rates to simplify taxes, reduce prices, and boost consumption, potentially driving GDP growth by...

Nimish Maheshwari

Vikram Solar IPO - RHP Updates, Peer Comp and Thoughts on Valuations

Vikram Solar is looking to raise about US$238m in its India IPO. In this note, we talk about the RHP updates, peer comp and implied valuations in...

Akshat Shah

Bluestone Jewellery IPO Trading - Tepid Demand

Bluestone Jewellery and Lifestyle Ltd (BJL) raised around US$176m in its India IPO. In this note, we talk about the trading dynamics.

Sumeet Singh

Knowledge Realty Trust IPO Trading - Decent Demand; Leads Past REIT Listings

Knowledge Realty Trust (KRT) raised around US$551m in its India IPO. The market value of its assets stood at INR584.5bn (US$6.7bn), as of Mar'25....

Akshat Shah

JSW Cement IPO Trading - Overall Demand Lags Recent Listings

JSW Cement raised about US$410m in its India IPO. We have covered various aspects of the deal in our previous note. In this note, we will talk...

Akshat Shah

India is revamping its GST system with dual-slab rates to simplify taxes, reduce prices, and boost consumption, potentially driving GDP growth by...