Equity Analyst - Fundamental & Thematic, Sree Capital

Sreemant Dudhoria

Equity Analyst - Fundamental & Thematic

Fundamental Research on Listed Indian Companies

Sree Capital

Sree Capital is a platform to share fundamental research on listed Indian companies. We do this research for our own investment

Thematic (Sector/Industry)

<ul>
<li>Following our mid-month insider-buying report from last week, number of buying transactions has increased further. This is Part-3 of the series,providing an update on insider-buying activity from just last week.</li>
<li>Given this sharp decline in mid and small-cap Indian listed stocks, there has been a notable increase in insider buying activity in recent weeks.</li>
<li>As there are many companies with insider-buying this week (50 in total), we have divided this update into two parts for ease of reading.</li>
</ul>


Following our mid-month insider-buying report from last week, number of buying transactions has increased further. This is Part-3 of the series,providing an update on insider-buying activity from just last week.
Given this sharp decline in mid and small-cap Indian listed stocks, there has been a notable increase in insider buying activity in recent weeks.
As there are many companies with insider-buying this week (50 in total), we have divided this update into two parts for ease of reading.


Prices Drop, Eyes Pop: Mid-Month Insider Buying Activity Update – Part 3

APAC IPOs & Placements, Aequitas Research

Akshat Shah

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>
<a href="https://www.smartkarma.com/entities/indo-mim-ltd" target="_blank" data-smartkarma-citation="entities:45956:1" rel="noopener">Indo-MIM Ltd (1666551D IN)</a> raised about US$395m in its India IPO. IML provides end-to-end solutions for the manufacture of precision engineering components using metal injection molding (MIM) technology. </li>
<li>IML provides end-to-end solutions for the manufacture of precision engineering components using metal injection molding technology. Its capabilities include mold designing and tooling, coupled with finishing and assembly operations.</li>
<li>We have looked at the past performance and valuations in our previous note. In this note, we talk about the trading dynamics.</li>
</ul>



Indo-MIM Ltd (1666551D IN) raised about US$395m in its India IPO. IML provides end-to-end solutions for the manufacture of precision engineering components using metal injection molding (MIM) technology. 
IML provides end-to-end solutions for the manufacture of precision engineering components using metal injection molding technology. Its capabilities include mold designing and tooling, coupled with finishing and assembly operations.
We have looked at the past performance and valuations in our previous note. In this note, we talk about the trading dynamics.


Aequitas: Indo-MIM IPO Trading - Strong Overall Demand

<ul>
<li>
<a href="https://www.smartkarma.com/entities/indo-mim-ltd" target="_blank" data-smartkarma-citation="entities:45956:1" rel="noopener">Indo-MIM Ltd (1666551D IN)</a> is looking to raise about US$395m in its India IPO. The deal has been downsized from its earlier estimated size of US$750m.</li>
<li>IML provides end-to-end solutions for the manufacture of precision engineering components using metal injection molding technology. Its capabilities include mold designing and tooling, coupled with finishing and assembly operations.</li>
<li>In our earlier notes, we have looked at the company’s past performance. In this note, we talk about the RHP updates, peer comp and implied valuations in the price range.</li>
</ul>



Indo-MIM Ltd (1666551D IN) is looking to raise about US$395m in its India IPO. The deal has been downsized from its earlier estimated size of US$750m.
IML provides end-to-end solutions for the manufacture of precision engineering components using metal injection molding technology. Its capabilities include mold designing and tooling, coupled with finishing and assembly operations.
In our earlier notes, we have looked at the company’s past performance. In this note, we talk about the RHP updates, peer comp and implied valuations in the price range.


Aequitas: Indo-MIM IPO - RHP Updates, Peer Comp and Thoughts on Valuation

Oil and Gas, Mint Finance

Suhas Reddy

Oil and Gas

Deep Fundamental Analysis

Mint Finance

Mint Finance's investment research blends deep fundamental analysis with technical & quant insights. Investment strategies straddle across multiple asset classes with risk management embedded into every trade to deliver an outsized reward-to-risk ratio.

Mint Finance's research is centered around three key themes. First, energy transition and climate change. Second, artificial intelligence. Third, shifting world order with its impact across politics and monetary economics.

Equity Bottom-Up

<ul>
<li>Bloom Energy's share price surged over 1,100% as multi-billion-dollar agreements with Brookfield, Oracle, and American Electric Power validated its role in powering AI infrastructure.</li>
<li>Despite trading at elevated valuations, Bloom's USD 20+ billion backlog, rapid revenue growth, and improving profitability suggest the underlying business momentum remains strong.</li>
<li>Bloom's ability to deliver power faster than utilities and gas turbines could sustain growth, but future returns will depend on execution rather than narrative.</li>
</ul>


Bloom Energy's share price surged over 1,100% as multi-billion-dollar agreements with Brookfield, Oracle, and American Electric Power validated its role in powering AI infrastructure.
Despite trading at elevated valuations, Bloom's USD 20+ billion backlog, rapid revenue growth, and improving profitability suggest the underlying business momentum remains strong.
Bloom's ability to deliver power faster than utilities and gas turbines could sustain growth, but future returns will depend on execution rather than narrative.


Bloom Energy: Can the Fundamentals Catch Up?

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

Astra Microwave Products / Equity Bottom-Up

<ul>
<li>India's Cabinet Committee on Security approved SBS-3 in October 2024: 52-satellite military constellation costing 27,000 crore, with the first launch targeted by Apr-26 and the full network operational by 2029.</li>
<li>For the first time, 31 of the 52 satellites will be built by private Indian firms, formally opening military space to private sector and creating procurement pipeline for space players.</li>
<li>Operation Sindoor in May 2025 validated India's ISR gaps in real combat conditions and locked in political consensus; SBS-3 is now irreversible programme, not an aspiration. </li>
</ul>


India's Cabinet Committee on Security approved SBS-3 in October 2024: 52-satellite military constellation costing 27,000 crore, with the first launch targeted by Apr-26 and the full network operational by 2029.
For the first time, 31 of the 52 satellites will be built by private Indian firms, formally opening military space to private sector and creating procurement pipeline for space players.
Operation Sindoor in May 2025 validated India's ISR gaps in real combat conditions and locked in political consensus; SBS-3 is now irreversible programme, not an aspiration. 


India's SBS-3: 27000Cr Space Satellite Project, These Companies Will Benefit..

India

MTAR Technologies is an Indian precision engineering company specializing in manufacturing mission-critical components and systems for strategic sectors including clean energy, nuclear, space, and defense. The company provides complex assemblies requiring advanced machining and specialized fabrication, such as fuel cell units, nuclear reactor components, and aerospace structures. It was founded in 1970 and is headquartered in Hyderabad, Telangana, India.

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MTAR Technologies (MTARTECH IN)

Prices Drop, Eyes Pop: Mid-Month Insider Buying Activity Update – Part 3

Insider buying activity in mid and small-cap Indian listed stocks has increased, with 50 companies reporting transactions this week.

Sreemant Dudhoria

Aequitas: Indo-MIM IPO Trading - Strong Overall Demand

Indo-MIM Ltd (IML) raised about US$395m in its India IPO. In this note, we talk about the demand and the trading dynamics.

Akshat Shah

Aequitas: Indo-MIM IPO - RHP Updates, Peer Comp and Thoughts on Valuation

Indo-MIM Ltd (IML) is looking to raise about US$395m in its India IPO, downsized from its earlier estimated size of US$750m. In this note, we talk...

Akshat Shah

Bloom Energy: Can the Fundamentals Catch Up?

Bloom Energy's stock soars on major deals with tech giants and utilities, backed by strong financials and growth potential, but success hinges on...

Mint Finance

India's SBS-3: 27000Cr Space Satellite Project, These Companies Will Benefit..

India's Cabinet approves SBS-3 military satellite constellation, including private sector involvement, with full network operational by 2029 after...

Sudarshan Bhandari

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Prices Drop, Eyes Pop: Mid-Month Insider Buying Activity Update – Part 3

​Insider buying activity in mid and small-cap Indian listed stocks has increased, with 50 companies reporting transactions this week.

Sreemant Dudhoria

Aequitas: Indo-MIM IPO Trading - Strong Overall Demand

Indo-MIM Ltd (IML) raised about US$395m in its India IPO. In this note, we talk about the demand and the trading dynamics.

Akshat Shah

Aequitas: Indo-MIM IPO - RHP Updates, Peer Comp and Thoughts on Valuation

Indo-MIM Ltd (IML) is looking to raise about US$395m in its India IPO, downsized from its earlier estimated size of US$750m. In this note, we talk...

Akshat Shah

Bloom Energy: Can the Fundamentals Catch Up?

​Bloom Energy's stock soars on major deals with tech giants and utilities, backed by strong financials and growth potential, but success hinges on...

Mint Finance

India's SBS-3: 27000Cr Space Satellite Project, These Companies Will Benefit..

​India's Cabinet approves SBS-3 military satellite constellation, including private sector involvement, with full network operational by 2029 after...

Sudarshan Bhandari

Insider buying activity in mid and small-cap Indian listed stocks has increased, with 50 companies reporting transactions this week.

Bloom Energy's stock soars on major deals with tech giants and utilities, backed by strong financials and growth potential, but success hinges on...

India's Cabinet approves SBS-3 military satellite constellation, including private sector involvement, with full network operational by 2029 after...