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.

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Thematic (Sector/Industry)

<ul>
<li>Two senior executives at <a href="https://www.smartkarma.com/entities/hero-motocorp-ltd" target="_blank" data-smartkarma-citation="entities:2391:1" rel="noopener">Hero Motocorp (HMCL IN)</a> , Reema Jain and Sameer Pande, resigned amid market challenges and leadership changes</li>
<li>
<a href="https://www.smartkarma.com/entities/allianz-se-0516b9dc-34b1-4a5b-adff-c1c95188b4ff" target="_blank" data-smartkarma-citation="entities:28601:1" rel="noopener">Allianz (AZSEY US)</a> plans a new insurance partnership with Jio Financial, following the end of its 24-year tie-up with Bajaj Group.</li>
<li>
<a href="https://www.smartkarma.com/entities/bain-capital-specialty-finan" target="_blank" data-smartkarma-citation="entities:28761:1" rel="noopener">Bain Capital Specialty Finan (BCSF US)</a> set to acquire 22% stake in <a href="https://www.smartkarma.com/entities/manappuram-finance-ltd" target="_blank" data-smartkarma-citation="entities:12559:1" rel="noopener">Manappuram Finance (MGFL IN)</a> , with plans to increase stake to 42%.</li>
</ul>


Two senior executives at Hero Motocorp (HMCL IN) , Reema Jain and Sameer Pande, resigned amid market challenges and leadership changes

Allianz (AZSEY US) plans a new insurance partnership with Jio Financial, following the end of its 24-year tie-up with Bajaj Group.

Bain Capital Specialty Finan (BCSF US) set to acquire 22% stake in Manappuram Finance (MGFL IN) , with plans to increase stake to 42%.


#123 India Insight: Hero MotoCorp Execs Resign, Allianz Partners Jio, Bain to Buy Manappuram Stake

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>The Indian two-wheeler industry experienced subdued performance in February 2025, with listed companies reporting modest domestic sales figures. Exports were the only bright spot.</li>
<li>This insight provides a detailed analysis of sales performance of key players- <a href="https://www.smartkarma.com/entities/hero-motocorp-ltd" target="_blank" data-smartkarma-citation="entities:2391:1" rel="noopener">Hero Motocorp (HMCL IN)</a>,<a href="https://www.smartkarma.com/entities/bajaj-auto-ltd" target="_blank" data-smartkarma-citation="entities:3613:1" rel="noopener">Bajaj Auto Ltd (BJAUT IN)</a> , <a href="https://www.smartkarma.com/entities/tvs-motor-co-ltd" target="_blank" data-smartkarma-citation="entities:16123:1" rel="noopener">TVS Motor (TVSL IN)</a> and <a href="https://www.smartkarma.com/entities/eicher-motors-ltd" target="_blank" data-smartkarma-citation="entities:18316:1" rel="noopener">Eicher Motors (EIM IN)</a>.</li>
<li>Although companies have indicated an improvement in the domestic market following the festival of Holi, it remains to be seen how the demand scenario unfolds.</li>
</ul>


The Indian two-wheeler industry experienced subdued performance in February 2025, with listed companies reporting modest domestic sales figures. Exports were the only bright spot.
This insight provides a detailed analysis of sales performance of key players- Hero Motocorp (HMCL IN),Bajaj Auto Ltd (BJAUT IN) , TVS Motor (TVSL IN) and Eicher Motors (EIM IN).
Although companies have indicated an improvement in the domestic market following the festival of Holi, it remains to be seen how the demand scenario unfolds.


Weak Domestic Consumer Sentiment Impacts Two-Wheeler Sales in India

External broker reports(aggregated public sources), Axis Direct

Axis Direct

External broker reports(aggregated public sources)

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank 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>Feb’25 Wholesale Volumes: Domestic PV industry sales grew by 2% YoY, driven by strong volumes from Toyota, M&amp;M, and Kia while Hyundai/Tata Motors witnessed declines.</li><li>The domestic CV industry saw a decline of 3% YoY and 1% MoM. The 3W segment posted a 5% YoY and 2% QoQ increase in wholesales.</li><li>The domestic tractor industry registered 12% YoY volume growth, led by 19% and 10% YoY growth in M&amp;M and Escorts, respectively. </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.

Feb’25 Wholesale Volumes: Domestic PV industry sales grew by 2% YoY, driven by strong volumes from Toyota, M&amp;M, and Kia while Hyundai/Tata Motors witnessed declines.The domestic CV industry saw a decline of 3% YoY and 1% MoM. The 3W segment posted a 5% YoY and 2% QoQ increase in wholesales.The domestic tractor industry registered 12% YoY volume growth, led by 19% and 10% YoY growth in M&amp;M and Escorts, respectively. 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.

Auto Monthly Sales Volume - February 2025

<ul><li>Axis Top pick basket declined by 9% in Feb’25 in a highly volatile month that witnessed rather mixed performance across the sector, market cap and style indices.</li><li>The start of 2025 has been one of the toughest in recent times on account of the underperformance of the domestic market vis-à-vis other emerging and developed markets.</li><li>Led by volatility, the broader market adopted a more cautious approach during the month. Mid and Small Caps declined by 11% and 13%, respectively, while Nity-50 declined by 6% MoM. </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.

Axis Top pick basket declined by 9% in Feb’25 in a highly volatile month that witnessed rather mixed performance across the sector, market cap and style indices.The start of 2025 has been one of the toughest in recent times on account of the underperformance of the domestic market vis-à-vis other emerging and developed markets.Led by volatility, the broader market adopted a more cautious approach during the month. Mid and Small Caps declined by 11% and 13%, respectively, while Nity-50 declined by 6% MoM. 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.

Axis Top Picks for the month of March 2025

External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

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 aggregate performance of the Q3FY25 earnings season was subdued, in line with expectations, but reflected marginal improvement on a QoQ basis, led by energy, auto, and cement sectors.</li><li>Aggregate revenue/PAT grew by 5%/8% YoY and 5%/6% QoQ across the HSIE coverage (~234 stocks).</li><li>Earnings of mid/small-cap stocks grew slower at 3.8% in this quarter as compared to 8.7% registered by the large cap segment</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 aggregate performance of the Q3FY25 earnings season was subdued, in line with expectations, but reflected marginal improvement on a QoQ basis, led by energy, auto, and cement sectors.Aggregate revenue/PAT grew by 5%/8% YoY and 5%/6% QoQ across the HSIE coverage (~234 stocks).Earnings of mid/small-cap stocks grew slower at 3.8% in this quarter as compared to 8.7% registered by the large cap segmentContent 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.

Quarterly Flipbook: Diminishing growth, downgrades intensify across sectors

India

Hero MotoCorp Ltd. designs, manufactures and distributes motorcycles. The Company's products also include motorcycle parts and accessories.

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Hero Motocorp (HMCL IN)

#123 India Insight: Hero MotoCorp Execs Resign, Allianz Partners Jio, Bain to Buy Manappuram Stake

Executives resign at Hero Motocorp, Allianz forms new partnership with Jio Financial, Bain Capital to acquire stake in Manappuram Finance.

Sudarshan Bhandari

Weak Domestic Consumer Sentiment Impacts Two-Wheeler Sales in India

Indian two-wheeler industry sees subdued performance in Feb 2025, with exports shining. Detailed analysis of key players' sales provided. Domestic...

Sreemant Dudhoria

Auto Monthly Sales Volume - February 2025

Feb’25 Wholesale Volumes: Domestic PV industry sales grew by 2% YoY, driven by strong volumes from Toyota, M&M, and Kia while Hyundai/Tata Motors...

Axis Direct

Axis Top Picks for the month of March 2025

Axis Top pick basket declined by 9% in Feb’25 in a highly volatile month that witnessed rather mixed performance across the sector, market cap and...

Axis Direct

Quarterly Flipbook: Diminishing growth, downgrades intensify across sectors

The aggregate performance of the Q3FY25 earnings season was subdued, in line with expectations, but reflected marginal improvement on a QoQ basis,...

HDFC Securities

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

#123 India Insight: Hero MotoCorp Execs Resign, Allianz Partners Jio, Bain to Buy Manappuram Stake

​Executives resign at Hero Motocorp, Allianz forms new partnership with Jio Financial, Bain Capital to acquire stake in Manappuram Finance.

Sudarshan Bhandari

Weak Domestic Consumer Sentiment Impacts Two-Wheeler Sales in India

​Indian two-wheeler industry sees subdued performance in Feb 2025, with exports shining. Detailed analysis of key players' sales provided. Domestic...

Sreemant Dudhoria

Auto Monthly Sales Volume - February 2025

Feb’25 Wholesale Volumes: Domestic PV industry sales grew by 2% YoY, driven by strong volumes from Toyota, M&M, and Kia while Hyundai/Tata Motors...

Axis Direct

Axis Top Picks for the month of March 2025

Axis Top pick basket declined by 9% in Feb’25 in a highly volatile month that witnessed rather mixed performance across the sector, market cap and...

Axis Direct

Quarterly Flipbook: Diminishing growth, downgrades intensify across sectors

The aggregate performance of the Q3FY25 earnings season was subdued, in line with expectations, but reflected marginal improvement on a QoQ basis,...

HDFC Securities

Executives resign at Hero Motocorp, Allianz forms new partnership with Jio Financial, Bain Capital to acquire stake in Manappuram Finance.

Indian two-wheeler industry sees subdued performance in Feb 2025, with exports shining. Detailed analysis of key players' sales provided. Domestic...