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>Aether Industries, Anupam Rasayan and Acutaas Chemicals are developing international chemical opportunities; Linde India is positioning around gas supply for India’s emerging manufacturing ecosystem.</li>
<li>Chemical suppliers can address established overseas demand before India’s new commercial fabs begin volume production. </li>
<li>Acutaas’ Korean operation and Anupam’s US acquisition also show that exporting molecules can evolve into manufacturing close to customers.</li>
</ul>


Aether Industries, Anupam Rasayan and Acutaas Chemicals are developing international chemical opportunities; Linde India is positioning around gas supply for India’s emerging manufacturing ecosystem.
Chemical suppliers can address established overseas demand before India’s new commercial fabs begin volume production. 
Acutaas’ Korean operation and Anupam’s US acquisition also show that exporting molecules can evolve into manufacturing close to customers.


Semiconductor Chemicals: Four Listed Indian Companies, Two Different Markets

India Equity Analyst - Fundamental & Thematic, Beat the Street

Sudarshan Bhandari

India Equity Analyst - Fundamental & Thematic

Equity Bottom-Up

<ul>
<li>Inox Air, India's largest integrated gases company with a 22.4% share in FY26. Company has 31.0% market share in merchant Gases, 17.8% in on site Gas Supply.</li>
<li>It turns free air into a 51.3% EBITDA margin and also out earns Linde India.</li>
<li>The company has the highest margins and leadership among the peer group. Full IPO is OFS, nothing is added as new capex.</li>
</ul>


Inox Air, India's largest integrated gases company with a 22.4% share in FY26. Company has 31.0% market share in merchant Gases, 17.8% in on site Gas Supply.
It turns free air into a 51.3% EBITDA margin and also out earns Linde India.
The company has the highest margins and leadership among the peer group. Full IPO is OFS, nothing is added as new capex.


Selling Air: INOX Air Products Limited IPO

Smartkarma AI Primers, Smartkarma

αSK Primers

Smartkarma AI Primers

Smartkarma

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

Research Reinvented

<ul>
  <li>Linde India is the leading industrial gases company in India, a subsidiary of the global giant Linde plc, providing it with significant technological and operational backing.</li>
  <li>The company is well-positioned to capitalize on India's industrial growth, with strong demand expected from key sectors like steel, manufacturing, healthcare, and emerging areas like green hydrogen and electronics.</li>
  <li>Despite strong fundamentals and a debt-free status, the company's stock trades at a significant premium valuation, which could limit near-term upside potential. Corporate governance concerns regarding related-party transactions also warrant monitoring.</li>
</ul><p><em>This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.</em></p>


  Linde India is the leading industrial gases company in India, a subsidiary of the global giant Linde plc, providing it with significant technological and operational backing.
  The company is well-positioned to capitalize on India's industrial growth, with strong demand expected from key sectors like steel, manufacturing, healthcare, and emerging areas like green hydrogen and electronics.
  Despite strong fundamentals and a debt-free status, the company's stock trades at a significant premium valuation, which could limit near-term upside potential. Corporate governance concerns regarding related-party transactions also warrant monitoring.
This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.

Primer: Linde India Ltd (LIIL IN) - Mar 2026

<ul>
<li>Industrial gases like oxygen, nitrogen, argon are invisible infrastructure powering every steel plant, hospital, and semiconductor fab India builds.</li>
<li>Steel capacity targeting 300 MT by FY31, semiconductor fabs worth INR 1.6 lakh crore, healthcare expansion, and green hydrogen mission accelerate demand.</li>
<li>Linde India leads on contract stickiness and tech edge, Inox Air Products on scale, Taiyo Nippon Sanso on semiconductor specialty gases.</li>
</ul>


Industrial gases like oxygen, nitrogen, argon are invisible infrastructure powering every steel plant, hospital, and semiconductor fab India builds.
Steel capacity targeting 300 MT by FY31, semiconductor fabs worth INR 1.6 lakh crore, healthcare expansion, and green hydrogen mission accelerate demand.
Linde India leads on contract stickiness and tech edge, Inox Air Products on scale, Taiyo Nippon Sanso on semiconductor specialty gases.


Industrial Gas Sector: Who Stands to Gain from India's Capex Supercycle?

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

iShares MSCI ACWI ETF / Technical Analysis

<ul>
<li>Global equities are under some pressure after Fitch downgraded the United States' credit rating to AA+ from AAA.</li>
<li>We expect that this is a normal 3%-6% pullback to the 50-day MA or major $93 support level on the MSCI ACWI <a href="https://www.smartkarma.com/entities/ishares-msci-acwi-etf" target="_blank" data-smartkarma-citation="entities:24402:1" rel="noopener">iShares MSCI ACWI ETF (ACWI US)</a> .</li>
<li>$TNX is below 4.1%-4.3% and DXY remains in an 8-month downtrend; as long as this remains true, we'd buy on a pullback to the 50-day MA and/or $93 on ACWI-US</li>
</ul>


Global equities are under some pressure after Fitch downgraded the United States' credit rating to AA+ from AAA.
We expect that this is a normal 3%-6% pullback to the 50-day MA or major $93 support level on the MSCI ACWI iShares MSCI ACWI ETF (ACWI US) .
$TNX is below 4.1%-4.3% and DXY remains in an 8-month downtrend; as long as this remains true, we'd buy on a pullback to the 50-day MA and/or $93 on ACWI-US


Normal Pullback, or Something More?; Watching Resistance on DXY and 10-Yr Treasury Yield; Value Buys

India

Linde India Limited is a prominent industrial and medical gases company that manufactures and distributes a wide range of gases, including oxygen, nitrogen, and argon. The company also operates a Project Engineering Division involved in the design, supply, installation, and commissioning of air separation units and related plants. Linde India was founded in 1935 and is headquartered in Kolkata, India.

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Linde India (LIIL IN)

Semiconductor Chemicals: Four Listed Indian Companies, Two Different Markets

Indian companies are preparing for semiconductor value chain. Two methods- Chemicals and Gases, Chemicals offers export opportunity vs Gases offer...

Nimish Maheshwari

Selling Air: INOX Air Products Limited IPO

India's largest industrial gas firm, Inox Air Products held a 22.4% FY26 revenue share. Backed by 57 sites and massive infrastructure, it serves...

Sudarshan Bhandari

Primer: Linde India Ltd (LIIL IN) - Mar 2026

Linde India is the leading industrial gases company in India, a subsidiary of the global giant Linde plc, providing it with significant...

αSK Primers

Industrial Gas Sector: Who Stands to Gain from India's Capex Supercycle?

Industrial gases are essential infrastructure in India, fueling growth in steel, healthcare, and semiconductor industries with Linde India, Inox...

Nimish Maheshwari

Normal Pullback, or Something More?; Watching Resistance on DXY and 10-Yr Treasury Yield; Value Buys

Normal Pullback, or Something More for global equities?; Watch Resistance on $DXY and 10-Yr Treasury Yield; Value Buys in Consumer Discretionary...

Vermilion Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Semiconductor Chemicals: Four Listed Indian Companies, Two Different Markets

Indian companies are preparing for semiconductor value chain. Two methods- Chemicals and Gases, Chemicals offers export opportunity vs Gases offer...

Nimish Maheshwari

Selling Air: INOX Air Products Limited IPO

India's largest industrial gas firm, Inox Air Products held a 22.4% FY26 revenue share. Backed by 57 sites and massive infrastructure, it serves...

Sudarshan Bhandari

Primer: Linde India Ltd (LIIL IN) - Mar 2026

Linde India is the leading industrial gases company in India, a subsidiary of the global giant Linde plc, providing it with significant...

αSK Primers

Industrial Gas Sector: Who Stands to Gain from India's Capex Supercycle?

​Industrial gases are essential infrastructure in India, fueling growth in steel, healthcare, and semiconductor industries with Linde India, Inox...

Nimish Maheshwari

Normal Pullback, or Something More?; Watching Resistance on DXY and 10-Yr Treasury Yield; Value Buys

Normal Pullback, or Something More for global equities?; Watch Resistance on $DXY and 10-Yr Treasury Yield; Value Buys in Consumer Discretionary...

Vermilion Research

Industrial gases are essential infrastructure in India, fueling growth in steel, healthcare, and semiconductor industries with Linde India, Inox...