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>FIIs sold ~USD 46 billion in Indian equities (Jan 2024-Mar 2026). March 2026 alone saw record INR 97,000 crore (USD 11.7 billion) outflows, the highest ever in a single month.</li>
<li>
FPI ownership fell to 16.9%, a 15-year low. DIIs now hold more than FPIs, indicating a structural shift in India’s equity ownership.</li>
<li>
Capital has rotated to China, Taiwan, South Korea, and US Treasuries. Tracking these flows helps assess whether FII returns to India are near-term or delayed.</li>
</ul>


FIIs sold ~USD 46 billion in Indian equities (Jan 2024-Mar 2026). March 2026 alone saw record INR 97,000 crore (USD 11.7 billion) outflows, the highest ever in a single month.

FPI ownership fell to 16.9%, a 15-year low. DIIs now hold more than FPIs, indicating a structural shift in India’s equity ownership.

Capital has rotated to China, Taiwan, South Korea, and US Treasuries. Tracking these flows helps assess whether FII returns to India are near-term or delayed.


The $46 Billion Exodus: Where FIIs Are Parking Their Money?

External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

External broker reports(aggregated public sources)

HDFC securities is the best online trading platform for stocks, IPOs, mutual fund in India. 

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>The Indian IT services sector braces for another muted quarter in Q4FY26E, with tier-1 players growth projected at -1.1 to +0.9% QoQ CC and mid-tier companies ranging growth from -1.8% to +3.4%, as macro uncertainty, ongoing geopolitical tensions, and cautious client decision-making on large deals amid war escalation risks temper near-term revenue traction</li><li>The rupee depreciation brings some respite to margins, but AI-led deflation concerns triggered the recent multiple de-rating</li><li>Launch of new models from Gen-AI platforms like Claude and Palantir fuelled a ~24% correction over the past three months on fears of disrupting traditional SaaS/IT models</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.

The Indian IT services sector braces for another muted quarter in Q4FY26E, with tier-1 players growth projected at -1.1 to +0.9% QoQ CC and mid-tier companies ranging growth from -1.8% to +3.4%, as macro uncertainty, ongoing geopolitical tensions, and cautious client decision-making on large deals amid war escalation risks temper near-term revenue tractionThe rupee depreciation brings some respite to margins, but AI-led deflation concerns triggered the recent multiple de-ratingLaunch of new models from Gen-AI platforms like Claude and Palantir fuelled a ~24% correction over the past three months on fears of disrupting traditional SaaS/IT modelsContent 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.

IT Sector (Q4FY26E Results Preview): Navigating Uncertainty, Valuations Turn Attractive

India Equity Analyst - Fundamental & Thematic, Beat the Street

Sudarshan Bhandari

India Equity Analyst - Fundamental & Thematic

<ul>
<li>Budget 2026 grants foreign cloud companies a tax holiday until 2047, while four Indian conglomerates are on track to control 35-40% of national data center capacity by 2030.</li>
<li>The partnership model between global hyperscalers and Indian operators, structurally unlike the USA/Europe build-own approach, concentrates economic value domestically and compresses timelines.</li>
<li>AI demand is so capital-magnetic that the sector will grow regardless, but a chronic grid delivery gap raises the probability of the 10 GW target slipping to 2032.</li>
</ul>


Budget 2026 grants foreign cloud companies a tax holiday until 2047, while four Indian conglomerates are on track to control 35-40% of national data center capacity by 2030.
The partnership model between global hyperscalers and Indian operators, structurally unlike the USA/Europe build-own approach, concentrates economic value domestically and compresses timelines.
AI demand is so capital-magnetic that the sector will grow regardless, but a chronic grid delivery gap raises the probability of the 10 GW target slipping to 2032.


Thematic Report: India's Data Center Oligopoly!

<ul><li>The Indian IT sector has endured a sharp 25% correction over the past three months, fuelled by investor fears that Gen-AI platforms like Claude (by Anthropic) and Palantir could upend traditional SaaS and IT services models</li><li>Yet the industry demonstrates resilience, contending that deploying these unproven technologies in complex, "brownfield" regulatory landscapes prove far more challenging than the hype implies</li><li>As noted in our December 2025 sector update, we initially pegged AI's deflationary impact at ~4%, anticipating offsets from fresh deal wins</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.

The Indian IT sector has endured a sharp 25% correction over the past three months, fuelled by investor fears that Gen-AI platforms like Claude (by Anthropic) and Palantir could upend traditional SaaS and IT services modelsYet the industry demonstrates resilience, contending that deploying these unproven technologies in complex, "brownfield" regulatory landscapes prove far more challenging than the hype impliesAs noted in our December 2025 sector update, we initially pegged AI's deflationary impact at ~4%, anticipating offsets from fresh deal winsContent 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.

IT Sector: Disruption yields opportunities

<ul>
<li>The Nifty IT index plummeted over 20% recently on fears that generative AI will fundamentally destroy the traditional headcount driven IT services model</li>
<li>While some warn of 14-16% deflation, integrating complex artificial intelligence into enterprise systems actually unlocks a massive $300 to $400 billion incremental addressable market
</li>
<li>Top management confirms structurally sound demand with zero or avoidable accelerated pricing deflation, viewing the AI transition as a massive volume tailwind instead of a threat.</li>
</ul>


The Nifty IT index plummeted over 20% recently on fears that generative AI will fundamentally destroy the traditional headcount driven IT services model
While some warn of 14-16% deflation, integrating complex artificial intelligence into enterprise systems actually unlocks a massive $300 to $400 billion incremental addressable market

Top management confirms structurally sound demand with zero or avoidable accelerated pricing deflation, viewing the AI transition as a massive volume tailwind instead of a threat.


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.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

HCLTech (HCLT IN)

The $46 Billion Exodus: Where FIIs Are Parking Their Money?

Record outflows of USD 46 billion from Indian equities signal a shift in ownership from FIIs to DIIs, with capital moving to China, Taiwan, South...

Nimish Maheshwari

IT Sector (Q4FY26E Results Preview): Navigating Uncertainty, Valuations Turn Attractive

Launch of new models from Gen-AI platforms like Claude and Palantir fuelled a ~24% correction over the past three months on fears of disrupting...

HDFC Securities

Thematic Report: India's Data Center Oligopoly!

Budget 2026 grants tax holiday to foreign cloud companies, Indian conglomerates set to control data center capacity, AI sector growth inevitable...

Sudarshan Bhandari

IT Sector: Disruption yields opportunities

As noted in our December 2025 sector update, we initially pegged AI's deflationary impact at ~4%, anticipating offsets from fresh deal wins

HDFC Securities

Indian IT Sector: The Bottom Made?

Nifty IT index drops 20% on generative AI fears, but integrating AI could unlock $300-400 billion market and provide volume tailwind for IT services.

Nimish Maheshwari

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

The $46 Billion Exodus: Where FIIs Are Parking Their Money?

​Record outflows of USD 46 billion from Indian equities signal a shift in ownership from FIIs to DIIs, with capital moving to China, Taiwan, South...

Nimish Maheshwari

IT Sector (Q4FY26E Results Preview): Navigating Uncertainty, Valuations Turn Attractive

Launch of new models from Gen-AI platforms like Claude and Palantir fuelled a ~24% correction over the past three months on fears of disrupting...

HDFC Securities

Thematic Report: India's Data Center Oligopoly!

​Budget 2026 grants tax holiday to foreign cloud companies, Indian conglomerates set to control data center capacity, AI sector growth inevitable...

Sudarshan Bhandari

IT Sector: Disruption yields opportunities

As noted in our December 2025 sector update, we initially pegged AI's deflationary impact at ~4%, anticipating offsets from fresh deal wins

HDFC Securities

Indian IT Sector: The Bottom Made?

​Nifty IT index drops 20% on generative AI fears, but integrating AI could unlock $300-400 billion market and provide volume tailwind for IT services.

Nimish Maheshwari

Record outflows of USD 46 billion from Indian equities signal a shift in ownership from FIIs to DIIs, with capital moving to China, Taiwan, South...

Budget 2026 grants tax holiday to foreign cloud companies, Indian conglomerates set to control data center capacity, AI sector growth inevitable...

Nifty IT index drops 20% on generative AI fears, but integrating AI could unlock $300-400 billion market and provide volume tailwind for IT services.