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

Equity Bottom-Up

<ul>
<li>HCLTech, a global IT services company, reported Q4 FY26 revenue of USD 3,682M, below expectations due to telecom spending cuts and two SAP exits. </li>
<li>Management’s three-bucket AI strategy: disrupted, amplified, native which highlights structural pricing pressure, while a USD 100M+ AI Factory deal signals a shift toward higher-value AI-led infrastructure services.</li>
<li>FY27 guidance of 1-4% CC growth remains conservative, factoring near-term headwinds. Re-rating depends on Advanced AI scaling beyond USD 1Bn in 12-18 months and margin recovery. </li>
</ul>


HCLTech, a global IT services company, reported Q4 FY26 revenue of USD 3,682M, below expectations due to telecom spending cuts and two SAP exits. 
Management’s three-bucket AI strategy: disrupted, amplified, native which highlights structural pricing pressure, while a USD 100M+ AI Factory deal signals a shift toward higher-value AI-led infrastructure services.
FY27 guidance of 1-4% CC growth remains conservative, factoring near-term headwinds. Re-rating depends on Advanced AI scaling beyond USD 1Bn in 12-18 months and margin recovery. 


HCLTech: Muted Q4 and Weak FY27 Guidance Signal Demand Uncertainty

Equity Analyst - Fundamental & Thematic, Sree Capital

Sreemant Dudhoria

Equity Analyst - Fundamental & Thematic

Fundamental Research on Listed Indian Companies

Sree Capital

Sree Capital is a platform to share fundamental research on listed Indian companies. We do this research for our own investment

<ul>
<li>March 2026 insider activity was very strong with 60+ companies reporting insider accumulation spanning large caps and mid/small caps.</li>
<li>We present the key sectors which saw insider buying during the month along with names which have moved significantly above the insider buying price.</li>
<li>Also mentioned in this insight are the names which are available significantly below the insider buying price.</li>
</ul>


March 2026 insider activity was very strong with 60+ companies reporting insider accumulation spanning large caps and mid/small caps.
We present the key sectors which saw insider buying during the month along with names which have moved significantly above the insider buying price.
Also mentioned in this insight are the names which are available significantly below the insider buying price.


Insider Activity: Who Is Buying Their Own Stock During the Market Correction? – March 2026

<ul>
<li>February 2026 insider activity was very strong with 50+ companies reporting insider accumulation spanning large caps and midcaps.</li>
<li>We present the key sectors which saw insider buying during the month along with names which have moved significantly above the insider buying price.</li>
<li>Also mentioned in this insight are the names which are available significantly below the insider buying price.</li>
</ul>


February 2026 insider activity was very strong with 50+ companies reporting insider accumulation spanning large caps and midcaps.
We present the key sectors which saw insider buying during the month along with names which have moved significantly above the insider buying price.
Also mentioned in this insight are the names which are available significantly below the insider buying price.


Insider Activity: Who Is Buying Their Own Stock During the Market Correction? – February 2026

Thematic (Sector/Industry)

<ul>
<li>India Semiconductor Mission 2.0 expands policy support to INR 1,27,500 crore across six pillars, building on 12 approved units and over INR 1.64 lakh crore of Phase-I investment.</li>
<li>India is moving beyond subsidy-led fabs toward design IP, equipment, materials, advanced packaging, R&amp;D and talent- critical for reducing imports and creating a durable semiconductor cluster.</li>
<li>Semicon 2.0 is structurally positive, but commercial production, customer qualification, localisation, talent, subsidy disbursement and utilisation will decide which companies convert policy support into durable earnings.</li>
</ul>


India Semiconductor Mission 2.0 expands policy support to INR 1,27,500 crore across six pillars, building on 12 approved units and over INR 1.64 lakh crore of Phase-I investment.
India is moving beyond subsidy-led fabs toward design IP, equipment, materials, advanced packaging, R&amp;D and talent- critical for reducing imports and creating a durable semiconductor cluster.
Semicon 2.0 is structurally positive, but commercial production, customer qualification, localisation, talent, subsidy disbursement and utilisation will decide which companies convert policy support into durable earnings.


India Semiconductor Mission 2.0: Strengthening India’s Position in the Global Chip Value Chain

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

Avaada Electro Limited / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/avaada-electro-limited" target="_blank" data-smartkarma-citation="entities:58612:1" rel="noopener">Avaada Electro Limited (2596819D IN)</a> is looking to raise around US$800m in its upcoming India IPO. It is a vertically integrated solar photovoltaic manufacturer, producing high-efficiency solar cells and modules.</li>
<li>Avaada Electro Limited (AEL) benefits from strong demand visibility through its group's renewable IPP, while its manufacturing platform is well aligned with India's push towards domestic solar manufacturing requirements.</li>
<li>In this note, we look at the firm’s past performance.</li>
</ul>



Avaada Electro Limited (2596819D IN) is looking to raise around US$800m in its upcoming India IPO. It is a vertically integrated solar photovoltaic manufacturer, producing high-efficiency solar cells and modules.
Avaada Electro Limited (AEL) benefits from strong demand visibility through its group's renewable IPP, while its manufacturing platform is well aligned with India's push towards domestic solar manufacturing requirements.
In this note, we look at the firm’s past performance.


Aequitas: Avaada Electro Pre-IPO - Offtake Visibility but Concentration and Leverage Risks Remain

India

HCLTech is a global technology services and consulting company that provides a comprehensive range of software and infrastructure solutions. The company offers IT and business services, engineering and R&D services, and HCLSoftware products, focusing on digital, cloud, AI, and engineering solutions to help enterprises transform their businesses. HCLTech is headquartered in Noida, Uttar Pradesh, India, and was spun out in 1991.

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HCLTech (HCLT IN)

HCLTech: Muted Q4 and Weak FY27 Guidance Signal Demand Uncertainty

HCLTech's Q4 revenue misses expectations due to telecom spending cuts and SAP exits, but a shift towards higher-value AI services and guidance for...

Sudarshan Bhandari

Insider Activity: Who Is Buying Their Own Stock During the Market Correction? – March 2026

There was strong insider buying activity even during the last week of March 2026. Notable names include GMR Airports, Info Edge, Jindal Stainless,...

Sreemant Dudhoria

Insider Activity: Who Is Buying Their Own Stock During the Market Correction? – February 2026

February 2026 saw strong insider accumulation in 50+ companies across large caps and midcaps, with key sectors and company names highlighted for...

Sreemant Dudhoria

India Semiconductor Mission 2.0: Strengthening India’s Position in the Global Chip Value Chain

India Semiconductor Mission 2.0 aims to reduce imports and create a sustainable semiconductor cluster with INR 1,27,500 crore in policy support...

Sudarshan Bhandari

Aequitas: Avaada Electro Pre-IPO - Offtake Visibility but Concentration and Leverage Risks Remain

Avaada Electro Limited (AEL) is looking to raise around US$800m in its upcoming India IPO. In this note, we look at the firm’s past performance.

Akshat Shah

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

HCLTech: Muted Q4 and Weak FY27 Guidance Signal Demand Uncertainty

​HCLTech's Q4 revenue misses expectations due to telecom spending cuts and SAP exits, but a shift towards higher-value AI services and guidance for...

Sudarshan Bhandari

Insider Activity: Who Is Buying Their Own Stock During the Market Correction? – March 2026

There was strong insider buying activity even during the last week of March 2026. Notable names include GMR Airports, Info Edge, Jindal Stainless,...

Sreemant Dudhoria

Insider Activity: Who Is Buying Their Own Stock During the Market Correction? – February 2026

​February 2026 saw strong insider accumulation in 50+ companies across large caps and midcaps, with key sectors and company names highlighted for...

Sreemant Dudhoria

India Semiconductor Mission 2.0: Strengthening India’s Position in the Global Chip Value Chain

​India Semiconductor Mission 2.0 aims to reduce imports and create a sustainable semiconductor cluster with INR 1,27,500 crore in policy support...

Sudarshan Bhandari

Aequitas: Avaada Electro Pre-IPO - Offtake Visibility but Concentration and Leverage Risks Remain

Avaada Electro Limited (AEL) is looking to raise around US$800m in its upcoming India IPO. In this note, we look at the firm’s past performance.

Akshat Shah

HCLTech's Q4 revenue misses expectations due to telecom spending cuts and SAP exits, but a shift towards higher-value AI services and guidance for...

February 2026 saw strong insider accumulation in 50+ companies across large caps and midcaps, with key sectors and company names highlighted for...

India Semiconductor Mission 2.0 aims to reduce imports and create a sustainable semiconductor cluster with INR 1,27,500 crore in policy support...