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

Equity Bottom-Up

<ul>
<li>CFF Fluid Control enters FY25 with a INR 500+ crore order book and expanded manufacturing capacity at Khopoli and upcoming Chakan facility.</li>
<li>
Strategic partnerships, high entry barriers, and preferred supplier status strengthen revenue visibility amid India’s naval indigenization push.</li>
<li>
Robust growth prospects and contract pipeline outweigh concentration risks, reinforcing a positive long-term outlook.</li>
</ul>


CFF Fluid Control enters FY25 with a INR 500+ crore order book and expanded manufacturing capacity at Khopoli and upcoming Chakan facility.

Strategic partnerships, high entry barriers, and preferred supplier status strengthen revenue visibility amid India’s naval indigenization push.

Robust growth prospects and contract pipeline outweigh concentration risks, reinforcing a positive long-term outlook.


Business Breakdown: CFF Fluid Control - In the Middle of India’s Naval Indigenization Drive

Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Periscope Analytics

Periscope Analytics focuses on event-driven trades across Asia Pacific and provides comprehensive, timely and systematic coverage of index changes to major Asia Pacific indices in a structured manner.

The analysis includes forecasted inclusions and exclusions to all major Asian indices that have significant amount of tracking assets, including estimates of passive buy/sell flow on the stocks. The service also provides commentary and impact of market consultations, ground rule changes, and other events (IPOs, spin-offs, M&A) that could lead to index changes and passive flow.

Periscope Analytics works with multi-strategy hedge funds, proprietary trading firms, stat arb trading groups and long-only investors that invest and trade in the Asia Pacific region with the data being used to trade index rebalances, avoid pre-positioning and passive flow, and to time entry into and exit from stocks.

Event-Driven Trades Across Asia Pacific

Index Rebalance

<ul>
<li>With the review period now complete, there could be 11 changes for the NIFTY Midcap 150 Index at the September rebalance.</li>
<li>Estimated one-way turnover is 7.7% resulting in a round-trip trade of INR 17.6bn (US$201m). With over US$43bn tracking the index actively, the impact on the stocks will be much larger.</li>
<li>The outright forecast adds have outperformed the forecast deletes over the last 4 months and there has been a jump in the last week.</li>
</ul>


With the review period now complete, there could be 11 changes for the NIFTY Midcap 150 Index at the September rebalance.
Estimated one-way turnover is 7.7% resulting in a round-trip trade of INR 17.6bn (US$201m). With over US$43bn tracking the index actively, the impact on the stocks will be much larger.
The outright forecast adds have outperformed the forecast deletes over the last 4 months and there has been a jump in the last week.


NIFTY MIDCAP150 Index Rebalance Preview: 11 Potential Changes in September

Index Rebal/Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Index Rebal/Special Situations

Quiddity Advisors

Pan-Asia Catalysts/Events

Max Healthcare Institute / Index Rebalance

<ul>
<li>NIFTY 50 represents the 50 largest stocks listed in the National Stock Exchange (NSE) of India and the NIFTY Next 50 index tracks the next 50 largest names.</li>
<li>In this insight, we take a look at the names leading the race to become ADDs/DELs for these indices during the September 2025 index rebal event.</li>
<li>We see two changes for NIFTY 50 and five changes for NIFTY 100 based on current data. We see US$1.2bn a side to trade.</li>
</ul>


NIFTY 50 represents the 50 largest stocks listed in the National Stock Exchange (NSE) of India and the NIFTY Next 50 index tracks the next 50 largest names.
In this insight, we take a look at the names leading the race to become ADDs/DELs for these indices during the September 2025 index rebal event.
We see two changes for NIFTY 50 and five changes for NIFTY 100 based on current data. We see US$1.2bn a side to trade.


Quiddity Leaderboard NIFTY Sep25: Reference Period About to End; Some Changes to Expectations

Mazagon Dock Shipbuilders  / Index Rebalance

<ul>
<li>With the review period nearing completion, there could be 4 changes (including 1 migration) for the <a href="https://www.smartkarma.com/entities/nse-nifty-next-50-index" target="_blank" data-smartkarma-citation="entities:36053:1" rel="noopener">NSE Nifty Next 50 Index (NIFTYJR INDEX)</a> in September.</li>
<li>There is one stock close to inclusion zone and one stock close to deletion zone and price movements over the rest of the month will determine the final changes.</li>
<li>Estimated one-way turnover is 7.8% resulting in a one-way trade of INR 30.06bn (US$350m). Six of the eight potential changes will have over 2x ADV to trade from passive trackers.</li>
</ul>


With the review period nearing completion, there could be 4 changes (including 1 migration) for the NSE Nifty Next 50 Index (NIFTYJR INDEX) in September.
There is one stock close to inclusion zone and one stock close to deletion zone and price movements over the rest of the month will determine the final changes.
Estimated one-way turnover is 7.8% resulting in a one-way trade of INR 30.06bn (US$350m). Six of the eight potential changes will have over 2x ADV to trade from passive trackers.


NIFTY NEXT50 Index Rebalance Preview: Potential Changes & Close Names

<ul>
<li>We forecast 10 stocks moving from MidCap to LargeCap, 11 stocks moving from LargeCap to MidCap, 10 stocks from SmallCap to MidCap, and 13 stocks from MidCap to SmallCap.</li>
<li>From the new listings, 1 stock is expected to be added to Large cap, 2 stocks are expected to be added to Mid Cap, and multiple stocks to Small Cap.</li>
<li>There are multiple stocks among the AMFI changes that will be changes for global indices, <a href="https://www.smartkarma.com/entities/nifty-index" target="_blank" data-smartkarma-citation="entities:23617:1" rel="noopener">NIFTY Index</a>, <a href="https://www.smartkarma.com/entities/nse-nifty-next-50-index" target="_blank" data-smartkarma-citation="entities:36053:1" rel="noopener">NSE Nifty Next 50 Index</a> and/or Nifty Midcap 150 Index in September.</li>
</ul>


We forecast 10 stocks moving from MidCap to LargeCap, 11 stocks moving from LargeCap to MidCap, 10 stocks from SmallCap to MidCap, and 13 stocks from MidCap to SmallCap.
From the new listings, 1 stock is expected to be added to Large cap, 2 stocks are expected to be added to Mid Cap, and multiple stocks to Small Cap.
There are multiple stocks among the AMFI changes that will be changes for global indices, NIFTY Index, NSE Nifty Next 50 Index and/or Nifty Midcap 150 Index in September.


AMFI Stock Reclassification Preview (Jun 2025): Active Flows Lead to Passive Flows

India

Mazagon Dock Shipbuilders Limited operates as a ship building company. The Company provides builds and repairs ships, barges, and off-shore drilling rigs, as well as offers submarines. Mazagon Dock Shipbuilders serves customers in India.

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Mazagon Dock Shipbuilders (MAZDOCKS IN)

Business Breakdown: CFF Fluid Control - In the Middle of India’s Naval Indigenization Drive

CFF Fluid Control sees strong growth with INR 500+ crore order book, strategic partnerships, and robust prospects for the future.

Nimish Maheshwari

NIFTY MIDCAP150 Index Rebalance Preview: 11 Potential Changes in September

There could be 11 changes in Sep. Estimated one-way turnover is 7.7% and round-trip trade is INR 17.6bn. With over US$43bn tracking the index...

Brian Freitas

Quiddity Leaderboard NIFTY Sep25: Reference Period About to End; Some Changes to Expectations

These are our final expectations for ADDs/DELs for the NIFTY index family for the September 2025 index review. The reference period ended on 31st...

Janaghan Jeyakumar, CFA

NIFTY NEXT50 Index Rebalance Preview: Potential Changes & Close Names

There should be 5 NIFTY100 changes leading to 4 NEXT50 changes. There are two other stocks close to add/delete ranks. Estimated one-way turnover is...

Brian Freitas

AMFI Stock Reclassification Preview (Jun 2025): Active Flows Lead to Passive Flows

We currently forecast 44 migrations for the AMFI July reclassification. Some IPOs could be added to Large/Mid cap. The forecast upward migrations...

Brian Freitas

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Business Breakdown: CFF Fluid Control - In the Middle of India’s Naval Indigenization Drive

​CFF Fluid Control sees strong growth with INR 500+ crore order book, strategic partnerships, and robust prospects for the future.

Nimish Maheshwari

NIFTY MIDCAP150 Index Rebalance Preview: 11 Potential Changes in September

There could be 11 changes in Sep. Estimated one-way turnover is 7.7% and round-trip trade is INR 17.6bn. With over US$43bn tracking the index...

Brian Freitas

Quiddity Leaderboard NIFTY Sep25: Reference Period About to End; Some Changes to Expectations

These are our final expectations for ADDs/DELs for the NIFTY index family for the September 2025 index review. The reference period ended on 31st...

Janaghan Jeyakumar, CFA

NIFTY NEXT50 Index Rebalance Preview: Potential Changes & Close Names

There should be 5 NIFTY100 changes leading to 4 NEXT50 changes. There are two other stocks close to add/delete ranks. Estimated one-way turnover is...

Brian Freitas

AMFI Stock Reclassification Preview (Jun 2025): Active Flows Lead to Passive Flows

We currently forecast 44 migrations for the AMFI July reclassification. Some IPOs could be added to Large/Mid cap. The forecast upward migrations...

Brian Freitas

CFF Fluid Control sees strong growth with INR 500+ crore order book, strategic partnerships, and robust prospects for the future.