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

Thematic (Sector/Industry)

<ul>
<li>SEBI issued an interim order barring eight individuals and impounding INR173.14 crore in alleged illegal gains from insider trading in IEX shares, involving a high-ranking CERC official leaking confidential information.</li>
<li>This unprecedented case highlights a critical vulnerability: the leakage of UPSI from a regulatory body, undermining market integrity and posing a new, significant risk for companies dependent on government policy.</li>
<li>The decisive action by SEBI sends a powerful deterrence signal, but investors must now factor in regulatory governance risk as a core valuation parameter, especially for monopolistic or policy-sensitive entities.</li>
</ul>


SEBI issued an interim order barring eight individuals and impounding INR173.14 crore in alleged illegal gains from insider trading in IEX shares, involving a high-ranking CERC official leaking confidential information.
This unprecedented case highlights a critical vulnerability: the leakage of UPSI from a regulatory body, undermining market integrity and posing a new, significant risk for companies dependent on government policy.
The decisive action by SEBI sends a powerful deterrence signal, but investors must now factor in regulatory governance risk as a core valuation parameter, especially for monopolistic or policy-sensitive entities.


₹173 Crore Insider Windfall: SEBI Cracks Down on Nexus Between CERC and IEX Traders.

Director, Head of Research, Smartkarma

Pranav Rao

Director, Head of Research

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

Equity Capital Markets

<ul>
<li>Welcome to Curator’s Cut, a fortnightly roundup of standout themes from the 1,200+ insights published in the past two weeks on Smartkarma</li>
<li>In this cut, we review the rally in Chinese healthcare in 2025, track some updates in financial markets infrastructure companies, and see how Korean equities have done since end-May</li>
<li>Want to dig deeper? Comment or message with the themes you’d like to see highlighted next</li>
</ul>


Welcome to Curator’s Cut, a fortnightly roundup of standout themes from the 1,200+ insights published in the past two weeks on Smartkarma
In this cut, we review the rally in Chinese healthcare in 2025, track some updates in financial markets infrastructure companies, and see how Korean equities have done since end-May
Want to dig deeper? Comment or message with the themes you’d like to see highlighted next


Curator's Cut: China Healthcare Rally, Financial Market Infra Moves & Korea’s Equity Upswing

Market & Forensics Analyst, Beat the Street

Nimish Maheshwari

Market & Forensics Analyst

<ul>
<li>India’s electricity demand is witnessing a structural boom driven by rising temperatures, AC sales, urbanization, and smart tariff reforms, not just seasonal summer spikes.</li>
<li>Cooling demand alone could drive one-third of peak load by 2030, stressing grids, accelerating coal use, and challenging India’s clean energy transition.</li>
<li>The power story is no longer about generation alone, transmission, storage, smart meters, and efficient cooling are the real investment and policy frontiers to watch.</li>
</ul>


India’s electricity demand is witnessing a structural boom driven by rising temperatures, AC sales, urbanization, and smart tariff reforms, not just seasonal summer spikes.
Cooling demand alone could drive one-third of peak load by 2030, stressing grids, accelerating coal use, and challenging India’s clean energy transition.
The power story is no longer about generation alone, transmission, storage, smart meters, and efficient cooling are the real investment and policy frontiers to watch.


India’s Power Surge: What Is Fueling the Demand Boom in 2025?

APAC IPOs & Placements, Aequitas Research

Rosita Fernandes

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.

Trualt Bioenergy Ltd / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/trualt-bioenergy-ltd" target="_blank" data-smartkarma-citation="entities:44364:1" rel="noopener">Trualt Bioenergy Ltd (2350587D IN)</a> (TBL) is planning to raise about US$120m through its upcoming India IPO. </li>
<li>TBL is one of India’s largest biofuels producers. As of FY24, TBL’s business verticals were Ethanol, ENA (Extra Neutral Alcohol), CBG (Compressed Biogas), FOM (Fermented Organic Manure), CO2 (Carbon Dioxide).</li>
<li>As per the CRISIL Report, TBL held the distinction of being the largest ethanol producer in India based on installed capacity, as of Mar 24.</li>
</ul>



Trualt Bioenergy Ltd (2350587D IN) (TBL) is planning to raise about US$120m through its upcoming India IPO. 
TBL is one of India’s largest biofuels producers. As of FY24, TBL’s business verticals were Ethanol, ENA (Extra Neutral Alcohol), CBG (Compressed Biogas), FOM (Fermented Organic Manure), CO2 (Carbon Dioxide).
As per the CRISIL Report, TBL held the distinction of being the largest ethanol producer in India based on installed capacity, as of Mar 24.


Trualt Bioenergy Limited Pre-IPO - Built in a Flash: The Rapid Rise to an IPO

Fundamental Analyses, Contrarian Cashflows

Contrarian Cashflows

Fundamental Analyses

The purpose of Contrarian Cashflows is to document my investment research and share it with everyone who is interested in value investing. My long term aspiration for Contrarian Cashflows is to become a platform for professional investors and serious amateurs where they can get inspiration and discuss investing-related topics.
I plan to publish one company deep dive per month that is guided by my investment approach. All information I use for my write-ups is publicly available and most of the time directly sourced from public filings issued by the respective companies. To guarantee maximum transparency, for every post I provide a list of all used sources in the resources section.
Contrarian Cashflows is built around the principles of respect, honesty, open-mindedness and a touch of humour. Please consider these principles in any engagement interaction with me, other readers and the content on this blog. Misbehaviour is not tolerated.
If you want to reach out to me directly, the best way is via LinkedIn, Twitter or email. You can find the details at my homepage contrariancashflows.com

Equity Bottom-Up

Indian Energy Exchange Ltd / Equity Bottom-Up

<ul><li>As one of the fastest-growing economies globally, India is projected to become the third-largest economy, trailing only China and the US, by 2027.</li><li>Amid macroeconomic challenges worldwide, investors are eager to tap into India’s robust economic growth.</li><li>However, economic growth does not always correlate with equity market growth, as seen in Spain and Italy during the 1980s and 1990s, and more recently in China.</li></ul>

As one of the fastest-growing economies globally, India is projected to become the third-largest economy, trailing only China and the US, by 2027.Amid macroeconomic challenges worldwide, investors are eager to tap into India’s robust economic growth.However, economic growth does not always correlate with equity market growth, as seen in Spain and Italy during the 1980s and 1990s, and more recently in China.

Indian Energy Exchange: Do You Want to Earn a Royalty on India’s Economic Growth?

India

Indian Energy Exchange Limited operates a power trading platform for the physical delivery of electricity. The Company enables price discovery and risk management for participants of the electricity market. Indian Energy Exchange serves metal, food processing, textile, cement, ceramic, chemicals, automobiles, and information technology industries in India.

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Indian Energy Exchange Ltd (IEX IN)

₹173 Crore Insider Windfall: SEBI Cracks Down on Nexus Between CERC and IEX Traders.

SEBI bars individuals, impounds funds in insider trading case involving leaked information from regulatory body, highlighting new risk for companies.

Sudarshan Bhandari

Curator's Cut: China Healthcare Rally, Financial Market Infra Moves & Korea’s Equity Upswing

This Curator's Cut issue shows what's contributed to the Chinese healthcare sector's performance YTD, looks at some exchanges and depositories,...

Pranav Rao

India’s Power Surge: What Is Fueling the Demand Boom in 2025?

India's electricity demand is rising due to various factors, including cooling needs, urbanization, and smart tariff reforms, posing challenges...

Nimish Maheshwari

Trualt Bioenergy Limited Pre-IPO - Built in a Flash: The Rapid Rise to an IPO

Trualt Bioenergy Ltd (TBL) plans to raise $120m in India IPO, known for being one of India's largest biofuels producers with various business...

Rosita Fernandes

Indian Energy Exchange: Do You Want to Earn a Royalty on India’s Economic Growth?

As one of the fastest-growing economies globally, India is projected to become the third-largest economy, trailing only China and the US, by...

Contrarian Cashflows

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

₹173 Crore Insider Windfall: SEBI Cracks Down on Nexus Between CERC and IEX Traders.

​SEBI bars individuals, impounds funds in insider trading case involving leaked information from regulatory body, highlighting new risk for companies.

Sudarshan Bhandari

Curator's Cut: China Healthcare Rally, Financial Market Infra Moves & Korea’s Equity Upswing

This ​Curator's Cut issue shows what's contributed to the Chinese healthcare sector's performance YTD, looks at some exchanges and depositories,...

Pranav Rao

India’s Power Surge: What Is Fueling the Demand Boom in 2025?

​India's electricity demand is rising due to various factors, including cooling needs, urbanization, and smart tariff reforms, posing challenges...

Nimish Maheshwari

Trualt Bioenergy Limited Pre-IPO - Built in a Flash: The Rapid Rise to an IPO

​Trualt Bioenergy Ltd (TBL) plans to raise $120m in India IPO, known for being one of India's largest biofuels producers with various business...

Rosita Fernandes

Indian Energy Exchange: Do You Want to Earn a Royalty on India’s Economic Growth?

As one of the fastest-growing economies globally, India is projected to become the third-largest economy, trailing only China and the US, by...

Contrarian Cashflows

SEBI bars individuals, impounds funds in insider trading case involving leaked information from regulatory body, highlighting new risk for companies.

This Curator's Cut issue shows what's contributed to the Chinese healthcare sector's performance YTD, looks at some exchanges and depositories,...

India's electricity demand is rising due to various factors, including cooling needs, urbanization, and smart tariff reforms, posing challenges...

Trualt Bioenergy Ltd (TBL) plans to raise $120m in India IPO, known for being one of India's largest biofuels producers with various business...