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

Multi Commodity Exchange of India / Equity Bottom-Up

Multi Commodity Exchange of India (MCX IN)

<ul>
<li>
Options ADT surged 91% YoY, bullion now drives 57% of ADT, and the costly technology transition is complete, sharply improving MCX’s margin profile. </li>
<li>Options-Led participation, lower tech costs, and new products like electricity derivatives create a stronger, more diversified growth engine while reinforcing MCX’s quasi-monopoly in metals and energy. </li>
<li>
With operating leverage unlocked, product expansion underway, and volume visibility improving, MCX shifts from a cyclical trade to a high-conviction multi-year structural compounding story.</li>
</ul>



Options ADT surged 91% YoY, bullion now drives 57% of ADT, and the costly technology transition is complete, sharply improving MCX’s margin profile. 
Options-Led participation, lower tech costs, and new products like electricity derivatives create a stronger, more diversified growth engine while reinforcing MCX’s quasi-monopoly in metals and energy. 

With operating leverage unlocked, product expansion underway, and volume visibility improving, MCX shifts from a cyclical trade to a high-conviction multi-year structural compounding story.


2026 High Conviction Idea: MCX - India’s Commodity Giant

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

Shanghai Stock Exchange Composite Index / Technical Analysis

Shanghai Stock Exchange Composite Index (SHCOMP INDEX)

<ul>
<li>We remain near-term bullish since our 4/22/25 Compass, and our intermediate-term outlook remains bullish as well (as of our 5/14/25 Compass).</li>
<li>We will maintain our bullish intermediate-term view as long as market dynamics remain healthy and the SPX and ACWI-US are above 5700-5785 and $119-$121.</li>
<li>$125-$126 and $123-$123.50 are short-term supports to watch on ACWI-US; we will maintain our near-term bullish outlook as long as $123 support holds.</li>
</ul>


We remain near-term bullish since our 4/22/25 Compass, and our intermediate-term outlook remains bullish as well (as of our 5/14/25 Compass).
We will maintain our bullish intermediate-term view as long as market dynamics remain healthy and the SPX and ACWI-US are above 5700-5785 and $119-$121.
$125-$126 and $123-$123.50 are short-term supports to watch on ACWI-US; we will maintain our near-term bullish outlook as long as $123 support holds.


China and Japan Breaking Out -- Buy; Bullish Outlook Intact; U.S. Dollar (DXY) Remains Weak

Event-Driven

National Stock Exchange of India / Event-Driven

National Stock Exchange of India (NSE IN)

<ul>
<li>NSE has floated a plan, discussed with investors on IPO roadshows, to let its own shares trade on its own platform, even though the stock will formally list on BSE.</li>
<li>This would split secondary-market turnover in what was meant to be BSE's marquee listing, denting the transaction revenue and prestige BSE had priced into hosting India's biggest IPO.</li>
<li>SEBI's approval for the self-trading mechanism is still pending, not granted. The DRHP clears a separate, earlier hurdle. Watch both approvals closely before pricing in either outcome.</li>
</ul>


NSE has floated a plan, discussed with investors on IPO roadshows, to let its own shares trade on its own platform, even though the stock will formally list on BSE.
This would split secondary-market turnover in what was meant to be BSE's marquee listing, denting the transaction revenue and prestige BSE had priced into hosting India's biggest IPO.
SEBI's approval for the self-trading mechanism is still pending, not granted. The DRHP clears a separate, earlier hurdle. Watch both approvals closely before pricing in either outcome.


How NSE's Self-Trading Could Dent BSE's Biggest IPO Windfall?

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

Fractal Analytics Ltd / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/fractal-analytics-ltd" target="_blank" data-smartkarma-citation="entities:45676:1" rel="noopener">Fractal Analytics (2453623D IN)</a> raised about US$315m in its India IPO in Feb 2026. The lockup on its pre-IPO investors and part of promoters’ stake is set to expire soon.</li>
<li>Fractal Analytics is an enterprise artificial intelligence (AI) company which supports large global enterprises with data-driven insights and assists them in their decision making through its end-to-end AI solutions.</li>
<li>In this note, we will talk about the lockup dynamics and possible placement.</li>
</ul>



Fractal Analytics (2453623D IN) raised about US$315m in its India IPO in Feb 2026. The lockup on its pre-IPO investors and part of promoters’ stake is set to expire soon.
Fractal Analytics is an enterprise artificial intelligence (AI) company which supports large global enterprises with data-driven insights and assists them in their decision making through its end-to-end AI solutions.
In this note, we will talk about the lockup dynamics and possible placement.


Aequitas: Fractal Analytics IPO Lockup Expiry - US$875m Release but Shares Trading Below IPO Price

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

<ul>
<li>Insider Activity picked up in the month of June 2026 with significant number of transactions visible in sub INR 1 billion mcap companies.</li>
<li>We highlight large and small cap companies that experienced significant insider buying during June 2026, as reported on the stock exchanges.</li>
<li>We also present key sectors which saw insider buying during the month along with names which have moved significantly above the insider buying price.</li>
</ul>


Insider Activity picked up in the month of June 2026 with significant number of transactions visible in sub INR 1 billion mcap companies.
We highlight large and small cap companies that experienced significant insider buying during June 2026, as reported on the stock exchanges.
We also present key sectors which saw insider buying during the month along with names which have moved significantly above the insider buying price.


Insider Activity: Who Bought Their Own Stock in June 2026 ?

India

Multi Commodity Exchange of India (MCX) is India's largest commodity derivatives exchange, offering an online platform for trading commodity futures and options across segments such as bullion, base metals, energy, and agricultural commodities. The company also provides data feed subscriptions and membership services. It was founded in 2003 and is headquartered in Mumbai, India.

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Multi Commodity Exchange of India (MCX IN)

2026 High Conviction Idea: MCX - India’s Commodity Giant

MCX launches successful Commodity Derivatives Platform, sees growth in bullion options; poised for operational leverage despite technical glitches.

Nimish Maheshwari

China and Japan Breaking Out -- Buy; Bullish Outlook Intact; U.S. Dollar (DXY) Remains Weak

China's Shanghai Composite and Japan's TOPIX and TOPIX Small indexes Breaking Out -- Buy; Bullish Outlook Intact on global equities $ACWI; U.S....

Vermilion Research

How NSE's Self-Trading Could Dent BSE's Biggest IPO Windfall?

NSE wants its own stock, once listed on BSE, to also trade on the NSE terminal. If SEBI agrees, India's largest-ever listing may not deliver the...

Nimish Maheshwari

Aequitas: Fractal Analytics IPO Lockup Expiry - US$875m Release but Shares Trading Below IPO Price

Fractal Analytics raised about US$315m in its India IPO in Feb 2026. The lockup on its pre-IPO investors and part of promoters’ stake is set to...

Akshat Shah

Insider Activity: Who Bought Their Own Stock in June 2026 ?

While July is likely to be a weak month for insider buying due to the earnings season, notable transactions have been seen in companies such as...

Sreemant Dudhoria

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

2026 High Conviction Idea: MCX - India’s Commodity Giant

​MCX launches successful Commodity Derivatives Platform, sees growth in bullion options; poised for operational leverage despite technical glitches.

Nimish Maheshwari

China and Japan Breaking Out -- Buy; Bullish Outlook Intact; U.S. Dollar (DXY) Remains Weak

China's Shanghai Composite and Japan's TOPIX and TOPIX Small indexes Breaking Out -- Buy; Bullish Outlook Intact on global equities $ACWI; U.S....

Vermilion Research

How NSE's Self-Trading Could Dent BSE's Biggest IPO Windfall?

NSE wants its own stock, once listed on BSE, to also trade on the NSE terminal. If SEBI agrees, India's largest-ever listing may not deliver the...

Nimish Maheshwari

Aequitas: Fractal Analytics IPO Lockup Expiry - US$875m Release but Shares Trading Below IPO Price

Fractal Analytics raised about US$315m in its India IPO in Feb 2026. The lockup on its pre-IPO investors and part of promoters’ stake is set to...

Akshat Shah

Insider Activity: Who Bought Their Own Stock in June 2026 ?

While July is likely to be a weak month for insider buying due to the earnings season, notable transactions have been seen in companies such as...

Sreemant Dudhoria

MCX launches successful Commodity Derivatives Platform, sees growth in bullion options; poised for operational leverage despite technical glitches.