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>
<a href="https://www.smartkarma.com/entities/cochin-shipyard-ltd" target="_blank" data-smartkarma-citation="entities:24261:1" rel="noopener">Cochin Shipyard Ltd (COCHIN IN)</a>  has secured a Rs. 450 crore order to build tugboats for <a href="https://www.smartkarma.com/entities/adani-ports-special-economic-zone-ltd" target="_blank" data-smartkarma-citation="entities:246:1" rel="noopener">Adani Ports &amp; Special Economic Zone (ADSEZ IN)</a> , signalling growth in India's shipbuilding industry.</li>
<li>
<a href="https://www.smartkarma.com/entities/dixon-technologies-india-ltd" target="_blank" data-smartkarma-citation="entities:25486:1" rel="noopener">Dixon Technologies India Ltd (DIXON IN)</a>  is expanding beyond electronics manufacturing by entering the refrigerator market through a partnership with Cellecor Gadgets.</li>
<li>
<a href="https://www.smartkarma.com/entities/va-tech-wabag-ltd" target="_blank" data-smartkarma-citation="entities:9096:1" rel="noopener">VA Tech Wabag (VATW IN)</a>  is making waves with a Rs. 700 crore wastewater treatment project in Zambia, highlighting its commitment to sustainable solutions and expansion across the African market.</li>
</ul>



Cochin Shipyard Ltd (COCHIN IN)  has secured a Rs. 450 crore order to build tugboats for Adani Ports &amp; Special Economic Zone (ADSEZ IN) , signalling growth in India's shipbuilding industry.

Dixon Technologies India Ltd (DIXON IN)  is expanding beyond electronics manufacturing by entering the refrigerator market through a partnership with Cellecor Gadgets.

VA Tech Wabag (VATW IN)  is making waves with a Rs. 700 crore wastewater treatment project in Zambia, highlighting its commitment to sustainable solutions and expansion across the African market.


#76 India Insight: Cochin’s ₹450 Cr Tug Order, Dixon's Refrigerator Play, Wabag's African Expansion

External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

External broker reports(aggregated public sources)

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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>We expect our consumer coverage to report revenue growth in mid-single-digits (6% yoy), driven by volume growth</li><li>At an aggregate level, we expect revenue/EBITDA/net income growth of 6/4/2% respectively in 2QFY25.</li><li>Consumer staples Our ground checks suggest that the demand environment for FMCG has not seen any meaningful improvement owing to (1) subdued macro, (2) hygiene inventory correction undertaken by a few companies to improve the health of the system, (3) adverse weather conditions impacting consumption of cold beverages, (4) largest MT player undertaking significant inventory optimisation measures, which has reduced offtake from FMCG companies, (5) no meaningful improvement in liquidity situation, as funds which were expected to get released back into the system (post elections) are yet to come back, (6) market share gains via quick commerce from traditional channels, where D2C has a better edge in the QC channel.</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.

We expect our consumer coverage to report revenue growth in mid-single-digits (6% yoy), driven by volume growthAt an aggregate level, we expect revenue/EBITDA/net income growth of 6/4/2% respectively in 2QFY25.Consumer staples Our ground checks suggest that the demand environment for FMCG has not seen any meaningful improvement owing to (1) subdued macro, (2) hygiene inventory correction undertaken by a few companies to improve the health of the system, (3) adverse weather conditions impacting consumption of cold beverages, (4) largest MT player undertaking significant inventory optimisation measures, which has reduced offtake from FMCG companies, (5) no meaningful improvement in liquidity situation, as funds which were expected to get released back into the system (post elections) are yet to come back, (6) market share gains via quick commerce from traditional channels, where D2C has a better edge in the QC channel.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.

Consumer (Q2FY25 Results Preview): One more soft quarter but outlook is improving

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

<ul>
<li>Our outlook remains neutral on global equities (MSCI ACWI) as of our August 8, 2024 Int’l Compass, after being bullish since early-November 2023</li>
<li>As discussed since late-July, we believe we're still within a 4- to 6-month pullback/consolidation from our selected July 17 starting point, until the market decides which was this consolidation resolves </li>
<li>TOPIX is below 2740-2820 resistance. Europe is testing resistance, though near potential breakouts on the EURO STOXX 50, STOXX Europe 600, and STOXX Europe 50. Watch for false breakouts</li>
</ul>


Our outlook remains neutral on global equities (MSCI ACWI) as of our August 8, 2024 Int’l Compass, after being bullish since early-November 2023
As discussed since late-July, we believe we're still within a 4- to 6-month pullback/consolidation from our selected July 17 starting point, until the market decides which was this consolidation resolves 
TOPIX is below 2740-2820 resistance. Europe is testing resistance, though near potential breakouts on the EURO STOXX 50, STOXX Europe 600, and STOXX Europe 50. Watch for false breakouts


Japan and Europe Holding Below Resistance; MSCI ACWI, ACWI Ex-US, EAFE (Local Curr) Below Resistance

<ul>
<li>We are seeing snap-back rallies in the largest global economies -- notably the U.S. and Japan, and also Europe to a lesser extent. However...</li>
<li>We're expecting to see lower highs develop at prior breakdown levels at 2690-2700 on the TOPIX and 4884 on the EURO STOXX 50, which are significant resistance levels.</li>
<li>Watching SPX resistance at 5585, or possible test of YTD highs/marginal new high, all fitting with our ongoing belief (since July 25) that ACWI-US going through 1-to 4-month pullback/consolidation.</li>
</ul>


We are seeing snap-back rallies in the largest global economies -- notably the U.S. and Japan, and also Europe to a lesser extent. However...
We're expecting to see lower highs develop at prior breakdown levels at 2690-2700 on the TOPIX and 4884 on the EURO STOXX 50, which are significant resistance levels.
Watching SPX resistance at 5585, or possible test of YTD highs/marginal new high, all fitting with our ongoing belief (since July 25) that ACWI-US going through 1-to 4-month pullback/consolidation.


MSCI ACWI Consolidation Continues; Outlook Remains Neutral; Buys Across Defensives & Other Sectors

<ul>
<li>Bangladesh, India's 2nd largest trading partner in Asia is under a political crisis leading to instability and uncertainty. </li>
<li>Companies impacted by Bangladesh Crisis in India across sectors and across market caps listed below. </li>
<li>There might be short-term impact, but in long run, there would not be much impact as overall exposure is not that much.</li>
</ul>


Bangladesh, India's 2nd largest trading partner in Asia is under a political crisis leading to instability and uncertainty. 
Companies impacted by Bangladesh Crisis in India across sectors and across market caps listed below. 
There might be short-term impact, but in long run, there would not be much impact as overall exposure is not that much.


Bangladesh Chaos: Impact on Indian Companies

India

Jubilant Foodworks Ltd. owns and operates fast food chains. The Company offers donuts, baked goods, coffee, bagels, muffin, fruit milkshakes, smoothies, tea, sandwiches, pizza, and beverages. Jubilant Foodworks serves its products to customers throughout India.

Price Gauge
52-week Range	0.00 - 0.00
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Jubilant Foodworks (JUBI IN)

#76 India Insight: Cochin’s ₹450 Cr Tug Order, Dixon's Refrigerator Play, Wabag's African Expansion

Cochin secures Rs. 450 cr order to build tugboats for Adani Ports. Dixon Technologies expands into refrigerator market. VA Tech Wabag undertakes...

Sudarshan Bhandari

Consumer (Q2FY25 Results Preview): One more soft quarter but outlook is improving

We expect our consumer coverage to report revenue growth in mid-single-digits (6% yoy), driven by volume growth. At an aggregate level, we expect...

HDFC Securities

Japan and Europe Holding Below Resistance; MSCI ACWI, ACWI Ex-US, EAFE (Local Curr) Below Resistance

Japan and Europe Holding Below Resistance; MSCI ACWI, ACWI ex-US, and EAFE (local currency) Also Below Resistance Though Testing Now; $EEM breakout...

Vermilion Research

MSCI ACWI Consolidation Continues; Outlook Remains Neutral; Buys Across Defensives & Other Sectors

MSCI $ACWI Consolidation Continues; Outlook Remains Neutral; Snap-Back Rallies in Japan $Nikkei $TOPIX, U.S. $SPX, Europe $STOXX fits with our view...

Vermilion Research

Bangladesh Chaos: Impact on Indian Companies

Political crisis in Bangladesh is causing instability, impacting India's 2nd largest trading partner in Asia. Companies may see short-term...

Sudarshan Bhandari

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

#76 India Insight: Cochin’s ₹450 Cr Tug Order, Dixon's Refrigerator Play, Wabag's African Expansion

​Cochin secures Rs. 450 cr order to build tugboats for Adani Ports. Dixon Technologies expands into refrigerator market. VA Tech Wabag undertakes...

Sudarshan Bhandari

Consumer (Q2FY25 Results Preview): One more soft quarter but outlook is improving

We expect our consumer coverage to report revenue growth in mid-single-digits (6% yoy), driven by volume growth. At an aggregate level, we expect...

HDFC Securities

Japan and Europe Holding Below Resistance; MSCI ACWI, ACWI Ex-US, EAFE (Local Curr) Below Resistance

Japan and Europe Holding Below Resistance; MSCI ACWI, ACWI ex-US, and EAFE (local currency) Also Below Resistance Though Testing Now; $EEM breakout...

Vermilion Research

MSCI ACWI Consolidation Continues; Outlook Remains Neutral; Buys Across Defensives & Other Sectors

MSCI $ACWI Consolidation Continues; Outlook Remains Neutral; Snap-Back Rallies in Japan $Nikkei $TOPIX, U.S. $SPX, Europe $STOXX fits with our view...

Vermilion Research

Bangladesh Chaos: Impact on Indian Companies

​Political crisis in Bangladesh is causing instability, impacting India's 2nd largest trading partner in Asia. Companies may see short-term...

Sudarshan Bhandari

Cochin secures Rs. 450 cr order to build tugboats for Adani Ports. Dixon Technologies expands into refrigerator market. VA Tech Wabag undertakes...

Political crisis in Bangladesh is causing instability, impacting India's 2nd largest trading partner in Asia. Companies may see short-term...