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>
<a href="https://www.smartkarma.com/entities/icici-securities-ltd" target="_blank" data-smartkarma-citation="entities:26737:1" rel="noopener">ICICI Securities Ltd (ISEC IN)</a> Turbulent Journey: From a disappointing IPO to a challenging delisting attempt.</li>
<li>
Delisting Plan and Shareholder Discontent: <a href="https://www.smartkarma.com/entities/icici-securities-ltd" target="_blank" data-smartkarma-citation="entities:26737:1" rel="noopener">ICICI Securities Ltd (ISEC IN)</a>  seeks to become a wholly-owned subsidiary of <a href="https://www.smartkarma.com/entities/icici-bank-ltd" target="_blank" data-smartkarma-citation="entities:547:1" rel="noopener">ICICI Bank Ltd (ICICIBC IN)</a>, facing resistance from minority shareholders.</li>
<li>
Uncertain Future: The outcome of the delisting hinges on the decisions of institutional shareholders like <a href="https://www.smartkarma.com/entities/life-insurance-corp-of-india" target="_blank" data-smartkarma-citation="entities:28829:1" rel="noopener">Life Insurance of India (LICI IN)</a>  and the board's actions.</li>
</ul>



ICICI Securities Ltd (ISEC IN) Turbulent Journey: From a disappointing IPO to a challenging delisting attempt.

Delisting Plan and Shareholder Discontent: ICICI Securities Ltd (ISEC IN)  seeks to become a wholly-owned subsidiary of ICICI Bank Ltd (ICICIBC IN), facing resistance from minority shareholders.

Uncertain Future: The outcome of the delisting hinges on the decisions of institutional shareholders like Life Insurance of India (LICI IN)  and the board's actions.


ICICI Securities Delisting: A Deja Vu of Troubles

Equity L/S Analyst | Forensic Accounting | India, Yellowstone Equity

Ankit Agrawal, CFA

Equity L/S Analyst | Forensic Accounting | India

Creating Wealth through Alpha and Compounding

Yellowstone Equity

Providing unbiased and independent research on Indian equities to global institutions and individual investors


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Regulatory Disclosure: 
Note that Ankit Agrawal (Proprietor of Yellowstone Equity) is a SEBI registered Research Analyst (Registration No.: INH000007216). Registration granted by SEBI and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors. Investment in securities market are subject to market risks. Read all the related documents carefully before investing.

Research Analyst Contact Details:
Address: A-412, Shilp Aaron, Sindhu Bhavan Road, Ahmedabad, Gujarat - 380059
Email: services@yellowstoneequity.com
Mobile: +91-7575817289

Compliance/Grievance Officer:
Name: Ankit Agrawal
Email: services@yellowstoneequity.com
Mobile: +91-7575817289
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Edelweiss Financial Services / Equity Bottom-Up

<ul>
<li>Edelweiss' stock was down over -5% yesterday. The reason for downfall seems to be a <a href="https://www.business-standard.com/pti-stories/news/three-top-brokers-face-multiple-probes-including-for-money-laundering-fraudulent-trades-123051400524_1.html" target="_blank" rel="noopener">media article</a> which states that three large brokers are being investigated for money laundering activities.</li>
<li>We think Edelweiss is not one of them as the article mentions that these brokers are being investigated since their involvement in the NSEL scam, where Edelweiss had no involvement.</li>
<li>In fact, <a href="https://www.smartkarma.com/entities/edelweiss-financial-services-ltd" target="_blank" data-smartkarma-citation="entities:15015:1" rel="noopener">Edelweiss</a> was among the few brokers that had come out unscathed in the NSEL scam, as it detected early on that there was some wrongdoing happening at NSEL.</li>
</ul>


Edelweiss' stock was down over -5% yesterday. The reason for downfall seems to be a media article which states that three large brokers are being investigated for money laundering activities.
We think Edelweiss is not one of them as the article mentions that these brokers are being investigated since their involvement in the NSEL scam, where Edelweiss had no involvement.
In fact, Edelweiss was among the few brokers that had come out unscathed in the NSEL scam, as it detected early on that there was some wrongdoing happening at NSEL.


Edelweiss: Recent Volatility In The Stock Seems Unwarranted

External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

External broker reports(aggregated public sources)

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.

Thematic (Sector/Industry)

<ul><li>Kotak Mahindra Bank: Kotak Mahindra Bank (KMB) delivered a strong beat, led by healthy loan growth (+18% YoY), reflation in NIMs (+28bps QoQ), and lower-than-expected credit costs (20bps annualised)</li><li>Loan growth ex of wholesale was broad-based across segments, with continued traction in unsecured retail (10% of loans) in line with KMB’s efforts to improve its share of high-yield products</li><li>Deposit mobilisation picked up, primarily from term deposits, while CASA saw a 50bps QoQ decline to 52.8%</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.

Kotak Mahindra Bank: Kotak Mahindra Bank (KMB) delivered a strong beat, led by healthy loan growth (+18% YoY), reflation in NIMs (+28bps QoQ), and lower-than-expected credit costs (20bps annualised)Loan growth ex of wholesale was broad-based across segments, with continued traction in unsecured retail (10% of loans) in line with KMB’s efforts to improve its share of high-yield productsDeposit mobilisation picked up, primarily from term deposits, while CASA saw a 50bps QoQ decline to 52.8%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.

HSIE Results Daily: Kotak Mahindra Bank, Indian Hotels, Supreme Industries

APAC IPOs & Placements, Aequitas Research

Ethan Aw

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.

Equity Capital Markets

<ul>
<li>In this note, we will take a look at bookrunner performance for ASEAN IPOs from 2019-2022. </li>
<li>The following dataset includes all ASEAN IPOs above US$100m for the period of Calendar Years 2019-2022, which amounted to a total of 41 deals.
</li>
<li>The deals you see in this note are based on our historical IPO tracker. Feel free to drop us a message for additional information on any of these IPOs.</li>
</ul>


In this note, we will take a look at bookrunner performance for ASEAN IPOs from 2019-2022. 
The following dataset includes all ASEAN IPOs above US$100m for the period of Calendar Years 2019-2022, which amounted to a total of 41 deals.

The deals you see in this note are based on our historical IPO tracker. Feel free to drop us a message for additional information on any of these IPOs.


Aequitas ASEAN IPOs Bookrunner Performance (2019-2022)

<ul><li>Tata Motors: Although headline numbers at JLR suggest a margin beat relative to expectations, the beat is led by higher capitalised costs</li><li>Also, the decline in gross margin QoQ despite the best-ever mix has been a negative surprise</li><li>In India, while CV business performance has been impressive, PV business margin has been in line and Tata Motors Finance has again disappointed</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.

Tata Motors: Although headline numbers at JLR suggest a margin beat relative to expectations, the beat is led by higher capitalised costsAlso, the decline in gross margin QoQ despite the best-ever mix has been a negative surpriseIn India, while CV business performance has been impressive, PV business margin has been in line and Tata Motors Finance has again disappointedContent 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.

HSIE Results Daily: Tata Motors, Bajaj Auto, Tata Elxsi, Indraprastha Gas

India

Motilal Oswal Financial Services Limited is a global, diversified financial services group. The Company offers services that include securities, commodities, investment banking and venture capital.

Motilal Oswal Financial Services (MOFS IN)

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52-week Range	0.00 - 0.00
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Motilal Oswal Financial Services (MOFS IN)

ICICI Securities Delisting: A Deja Vu of Troubles

ICICI Securities faces challenges with its delisting attempt as minority shareholders resist. The outcome remains uncertain, depending on...

Nimish Maheshwari

Edelweiss: Recent Volatility In The Stock Seems Unwarranted

Edelweiss' stock has seen significant volatility recently. It seems to have been driven by a media article. However, the market seems to be...

Ankit Agrawal, CFA

HSIE Results Daily: Kotak Mahindra Bank, Indian Hotels, Supreme Industries

Kotak Mahindra Bank (KMB) delivered a strong beat, led by healthy loan growth (+18% YoY), reflation in NIMs (+28bps QoQ), and lower-than-expected...

HDFC Securities

Aequitas ASEAN IPOs Bookrunner Performance (2019-2022)

In this note, we will take a look at bookrunner performance for ASEAN IPOs from 2019-2022 which includes all ASEAN IPOs above US$100m, amounting...

Ethan Aw

HSIE Results Daily: Tata Motors, Bajaj Auto, Tata Elxsi, Indraprastha Gas

Tata Motors: Although headline numbers at JLR suggest a margin beat relative to expectations, the beat is led by higher capitalised costs

HDFC Securities

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

ICICI Securities Delisting: A Deja Vu of Troubles

​ICICI Securities faces challenges with its delisting attempt as minority shareholders resist. The outcome remains uncertain, depending on...

Nimish Maheshwari

Edelweiss: Recent Volatility In The Stock Seems Unwarranted

Edelweiss' stock has seen significant volatility recently. It seems to have been driven by a media article. However, the market seems to be...

Ankit Agrawal, CFA

HSIE Results Daily: Kotak Mahindra Bank, Indian Hotels, Supreme Industries

Kotak Mahindra Bank (KMB) delivered a strong beat, led by healthy loan growth (+18% YoY), reflation in NIMs (+28bps QoQ), and lower-than-expected...

HDFC Securities

Aequitas ASEAN IPOs Bookrunner Performance (2019-2022)

In this note, we will take a look at bookrunner performance for ASEAN IPOs from 2019-2022 which includes all ASEAN IPOs above US$100m, amounting...

Ethan Aw

HSIE Results Daily: Tata Motors, Bajaj Auto, Tata Elxsi, Indraprastha Gas

Tata Motors: Although headline numbers at JLR suggest a margin beat relative to expectations, the beat is led by higher capitalised costs

HDFC Securities

ICICI Securities faces challenges with its delisting attempt as minority shareholders resist. The outcome remains uncertain, depending on...