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>INR 10,000 cr+ of fresh capacity, led by Grasim’s Birla Opus will lift organised paint capacity ~70 % by FY26 even as FY24 industry revenue growth slowed to ~4 %.</li>
<li>Hyper-Competition has shifted the fight to dealer shelves: aggressive discounts, wider distribution and heavier ad-spend are squeezing incumbents’ volumes and have dragged sector EBITDA margins from ~20% to ~16 %.</li>
<li>Near-Term earnings for legacy leaders will stay under pressure and market share will churn, but 80 % organised share and structurally strong housing demand keep the medium-term growth story intact.</li>
</ul>


INR 10,000 cr+ of fresh capacity, led by Grasim’s Birla Opus will lift organised paint capacity ~70 % by FY26 even as FY24 industry revenue growth slowed to ~4 %.
Hyper-Competition has shifted the fight to dealer shelves: aggressive discounts, wider distribution and heavier ad-spend are squeezing incumbents’ volumes and have dragged sector EBITDA margins from ~20% to ~16 %.
Near-Term earnings for legacy leaders will stay under pressure and market share will churn, but 80 % organised share and structurally strong housing demand keep the medium-term growth story intact.


India’s Paints Sector: A Tale of Disruption and Transformation

India Equity Analyst - Fundamental & Thematic, Beat the Street

Sudarshan Bhandari

India Equity Analyst - Fundamental & Thematic

<ul>
<li>L&amp;T Secures Rs 10,000-15,000 Crore Order in the Middle East</li>
<li>Power Grid Corporation Shares Rise After Winning Key Transmission Projects</li>
<li>NHPC to Raise INR 2,300 Crore for Expansion through Securitization</li>
</ul>


L&amp;T Secures Rs 10,000-15,000 Crore Order in the Middle East
Power Grid Corporation Shares Rise After Winning Key Transmission Projects
NHPC to Raise INR 2,300 Crore for Expansion through Securitization


# 62 India Insight: HDFC Bank Plans INR 60K Loan Sale, L&T Order, NHPC INR 2,300 Crore Expansion

Asia Pac ECM and Index Rebal, Shenton Research

Ke Yan, CFA, FRM

Asia Pac ECM and Index Rebal

Asia Pac IPO & Placement Research, China Biotech

Shenton Research

Shenton Research is an independent Asia Pacific equity specialist. Our quantitative research covers index rebalancing flows, alongside exchange data analytics accross Asia Pacific. On the equity capital markets side, we focus on Asia Pacific ECM, especially biotech and TMT. Our lead analyst is frequently cited by international media.

Quantitative Analysis

<ul>
<li>We analysed the earning revision of component stocks of MS-India in the past month.</li>
<li>We tabulated stocks with the top impact on index's EPS, stocks' EPS revision, and revenue revision.</li>
<li>We highlighted EPS revision on Hindalco Industries, Adani Enterprises, Grasim Industries, Reliance Industries, Axis Bank, ICICI Bank, HDFC Bank, Tata Motors Passenger Vehicles.</li>
</ul>


We analysed the earning revision of component stocks of MS-India in the past month.
We tabulated stocks with the top impact on index's EPS, stocks' EPS revision, and revenue revision.
We highlighted EPS revision on Hindalco Industries, Adani Enterprises, Grasim Industries, Reliance Industries, Axis Bank, ICICI Bank, HDFC Bank, Tata Motors Passenger Vehicles.


MS-India Index Earning Revision (Aug): Hindalco Industries, Adani Enterprises, Grasim Industries

<ul>
<li>We analysed the earning revision of component stocks of NIFTY in the past month.</li>
<li>We tabulated stocks with the top impact on index's EPS, stocks' EPS revision, and revenue revision.</li>
<li>We highlighted EPS revision on Hindalco Industries, Tata Steel, Tata Motors Passenger Vehicles, Adani Enterprises, Grasim Industries, State Bank of India, ITC.</li>
</ul>


We analysed the earning revision of component stocks of NIFTY in the past month.
We tabulated stocks with the top impact on index's EPS, stocks' EPS revision, and revenue revision.
We highlighted EPS revision on Hindalco Industries, Tata Steel, Tata Motors Passenger Vehicles, Adani Enterprises, Grasim Industries, State Bank of India, ITC.


NIFTY Index Earning Revision (Aug): Hindalco Industries, Tata Steel, Tata Motors Passenger Vehicles

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

iShares MSCI Brazil Capped ETF / Technical Analysis

<ul>
<li>In our October 26, 2023 Int'l Compass we discussed our expectations for a bounce in global equities (MSCI ACWI). So far, that has been the low.</li>
<li>Then, in our November 2, 2023 report, we discussed the bullish implications of the false breakdown in MSCI ACWI (local currency), before discussing expectations for a year-end rally on Nov.16</li>
<li>We see a massive opportunity in global gold/silver miners with gold nearing multi-year breakout. Also buy opportunities: Utilities in Europe, UK, and India; Materials, Industrials, Transportation, Real Estate, and Technology</li>
</ul>


In our October 26, 2023 Int'l Compass we discussed our expectations for a bounce in global equities (MSCI ACWI). So far, that has been the low.
Then, in our November 2, 2023 report, we discussed the bullish implications of the false breakdown in MSCI ACWI (local currency), before discussing expectations for a year-end rally on Nov.16
We see a massive opportunity in global gold/silver miners with gold nearing multi-year breakout. Also buy opportunities: Utilities in Europe, UK, and India; Materials, Industrials, Transportation, Real Estate, and Technology


Bullish Outlook Intact; Upgrading Brazil to Overweight; Buying Global Gold/Silver Miners + More Buys

India

Grasim Industries Limited is a diversified operating company and part of the Aditya Birla group. The group manufactures a wide range of products, including Viscose Staple Fiber(VSF), cement, chemicals and textiles.

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Grasim Industries (GRASIM IN)

India’s Paints Sector: A Tale of Disruption and Transformation

Organised paint sector capacity set to surge by 70% by FY26, but hyper-competition squeezing margins and market share in the near-term. Strong...

Nimish Maheshwari

# 62 India Insight: HDFC Bank Plans INR 60K Loan Sale, L&T Order, NHPC INR 2,300 Crore Expansion

Indian infrastructure companies secure major contracts and funding for expansion in the Middle East and domestically, driving stock prices up.

Sudarshan Bhandari

MS-India Index Earning Revision (Aug): Hindalco Industries, Adani Enterprises, Grasim Industries

We analyzed MS-India's consensus for Aug 2026 and highlighted changes of EPS in Hindalco Industries (HNDL IN), Adani Enterprises (ADE/S IN), Grasim...

Ke Yan, CFA, FRM

NIFTY Index Earning Revision (Aug): Hindalco Industries, Tata Steel, Tata Motors Passenger Vehicles

We analyzed NIFTY's consensus for Aug 2026 and highlighted changes of EPS in Hindalco Industries (HNDL IN), Tata Steel (TATA IN), Tata Motors...

Ke Yan, CFA, FRM

Bullish Outlook Intact; Upgrading Brazil to Overweight; Buying Global Gold/Silver Miners + More Buys

Our bullish outlook on global equities $ACWI remains intact. We are also upgrading Brazil $EWZ to overweight. We continue to expect a rally into...

Vermilion Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

India’s Paints Sector: A Tale of Disruption and Transformation

​Organised paint sector capacity set to surge by 70% by FY26, but hyper-competition squeezing margins and market share in the near-term. Strong...

Nimish Maheshwari

# 62 India Insight: HDFC Bank Plans INR 60K Loan Sale, L&T Order, NHPC INR 2,300 Crore Expansion

​Indian infrastructure companies secure major contracts and funding for expansion in the Middle East and domestically, driving stock prices up.

Sudarshan Bhandari

MS-India Index Earning Revision (Aug): Hindalco Industries, Adani Enterprises, Grasim Industries

We analyzed MS-India's consensus for Aug 2026 and highlighted changes of EPS in Hindalco Industries (HNDL IN), Adani Enterprises (ADE/S IN), Grasim...

Ke Yan, CFA, FRM

NIFTY Index Earning Revision (Aug): Hindalco Industries, Tata Steel, Tata Motors Passenger Vehicles

We analyzed NIFTY's consensus for Aug 2026 and highlighted changes of EPS in Hindalco Industries (HNDL IN), Tata Steel (TATA IN), Tata Motors...

Ke Yan, CFA, FRM

Bullish Outlook Intact; Upgrading Brazil to Overweight; Buying Global Gold/Silver Miners + More Buys

Our bullish outlook on global equities $ACWI remains intact. We are also upgrading Brazil $EWZ to overweight. We continue to expect a rally into...

Vermilion Research

Organised paint sector capacity set to surge by 70% by FY26, but hyper-competition squeezing margins and market share in the near-term. Strong...

Indian infrastructure companies secure major contracts and funding for expansion in the Middle East and domestically, driving stock prices up.