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>What’s New? India surpasses $1 trillion in cumulative FDI inflows since 2000, reflecting steady economic liberalization and targeted policy reforms post-2014.</li>
<li>Why It Matters?The milestone highlights India’s appeal as a global investment destination but reveals the need for balanced, inclusive growth across states and sectors.</li>
<li>How It Changes Your View?Despite high FDI, uneven distribution and low FDI-to-GDP ratio suggest India must optimize policies to maximize investment impact and address trade imbalances.</li>
</ul>


What’s New? India surpasses $1 trillion in cumulative FDI inflows since 2000, reflecting steady economic liberalization and targeted policy reforms post-2014.
Why It Matters?The milestone highlights India’s appeal as a global investment destination but reveals the need for balanced, inclusive growth across states and sectors.
How It Changes Your View?Despite high FDI, uneven distribution and low FDI-to-GDP ratio suggest India must optimize policies to maximize investment impact and address trade imbalances.


FDI in India: 2000 to 2024 – A Journey to $1 Trillion

Chief Economist & Political Strategist, CrossASEAN Research

Prasenjit K. Basu

Chief Economist & Political Strategist

CrossASEAN Research

At CrossASEAN Research we strive to produce unbiased and differentiated on the ground insights on companies across South East Asia. Our Research is produced for the most part after face to face meetings and conversations with company management to dig deep into the long term vision and strategy of the companies we cover. We seek to deliver investable and actionable themes on sectors and markets across SE Asia, often in collaboration with other Insight Providers across the region, pooling the vast experience of the analysts within the Smartkarma Ecosystem. We also offer bespoke work and tailor made trips for our clients. 

Insights across South East Asia

Macroeconomics

<ul>
<li>WPI inflation eased to 1.9%YoY in Nov'24, implying that the real policy rate was +4.6%, reining in industrial growth. Using CPI, the real policy rate in Nov'24 was +1.04%. </li>
<li>That seeming divergence is mainly caused by vegetable inflation, which moderated to a still-high 29.2%YoY in Nov'24 (from Oct'24's 42.2%YoY!). Core CPI inflation has remained below 4%YoY since Dec'23. </li>
<li>The bountiful winter harvest is likely to prompt a steady moderation in food/headline CPI inflation to below 4%YoY by Apr'25. We expect the repo rate to decline 75bp by Jun'25. </li>
</ul>


WPI inflation eased to 1.9%YoY in Nov'24, implying that the real policy rate was +4.6%, reining in industrial growth. Using CPI, the real policy rate in Nov'24 was +1.04%. 
That seeming divergence is mainly caused by vegetable inflation, which moderated to a still-high 29.2%YoY in Nov'24 (from Oct'24's 42.2%YoY!). Core CPI inflation has remained below 4%YoY since Dec'23. 
The bountiful winter harvest is likely to prompt a steady moderation in food/headline CPI inflation to below 4%YoY by Apr'25. We expect the repo rate to decline 75bp by Jun'25. 


India: Policy Rate to Decline 75bp by Jun'25 as Inflation Recedes

<ul>
<li>Overall, the declining HHI across various investor categories in the Indian securities market indicates a positive trend towards diversification and broader exposure. </li>
<li>This shift towards mid- and small-cap stocks suggests that investors are seeking growth opportunities amidst high market valuations. </li>
<li>The net outflows from FPIs, particularly concentrated in the top 100 stocks, indicate a shift in investment focus towards smaller companies. While sectoral analysis reveals disparities in concentration.</li>
</ul>


Overall, the declining HHI across various investor categories in the Indian securities market indicates a positive trend towards diversification and broader exposure. 
This shift towards mid- and small-cap stocks suggests that investors are seeking growth opportunities amidst high market valuations. 
The net outflows from FPIs, particularly concentrated in the top 100 stocks, indicate a shift in investment focus towards smaller companies. While sectoral analysis reveals disparities in concentration.


Thematic Report: Bets Beyond the Giants, How Institutional Investors Are Betting on Smaller Stocks

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, 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

Jio Platforms Ltd / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/jio-platforms-ltd" target="_blank" data-smartkarma-citation="entities:50269:1" rel="noopener">Jio Platforms</a> is looking to raise up to US$3.75bn in its upcoming India IPO.</li>
<li>Jio Platforms Ltd (JPL) is a technology and digital services platform company promoted by Reliance Industries, built on a proprietary digital technology stack and pan-India connectivity infrastructure.</li>
<li>We have looked at the company’s past performance and other deal dynamics in our previous note. In this note, we undertake a peer comparison.</li>
</ul>



Jio Platforms is looking to raise up to US$3.75bn in its upcoming India IPO.
Jio Platforms Ltd (JPL) is a technology and digital services platform company promoted by Reliance Industries, built on a proprietary digital technology stack and pan-India connectivity infrastructure.
We have looked at the company’s past performance and other deal dynamics in our previous note. In this note, we undertake a peer comparison.


Aequitas: Jio Platforms Pre-IPO - Peer Comparison

Research and consultancy, Tabbush Report

Daniel Tabbush

Research and consultancy

Tabbush Report

We provide research and consultancy on Asian banks. Our focus is on what we call “Asian bank research, without the noise.” We are interested in the most critical swing-factors for banks, the NPL and credit cycle, and where we believe there is a gap between perception and reality. We often focus on the less studied components of bank financial statements.  Our research is highly thematic, sometimes examining unlisted banks and companies as a window on mainstream banks. 

Being independent allows us to look at smaller banks, often overlooked by others. Analysis of BIS bank guidelines in the context of Asia, is also a focal point, while we also analyze global banks operating in the region. We use what we believe is the most comprehensive, reliable financials database, SNL Financial. S&P Capital IQ augments our database, with corporate data and CEIC, with economics. 

Asian bank research, without the noise.

<ul>
<li>New HDFC Bank appears to have far better returns and credit metrics that large Asian peers</li>
<li>Pro-Forma amalgamation puts HDFC Bank as 2nd largest bank in Asia Pacific in market cap </li>
<li>Comparably large banks in Asia are concentrated in China, where credit metrics are opaque</li>
</ul>


New HDFC Bank appears to have far better returns and credit metrics that large Asian peers
Pro-Forma amalgamation puts HDFC Bank as 2nd largest bank in Asia Pacific in market cap 
Comparably large banks in Asia are concentrated in China, where credit metrics are opaque


HDFC Bank - Ranks 2nd After Merger Compared With Asia Pacific Banks

India

The Nifty Junior Index is a free-float capitalization weighted index of the most liquid stocks excluded from the Nifty Index.

NSE Nifty Next 50 Index (NIFTYJR INDEX EQUITY)

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52-week Range	0.00 - 0.00
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NSE Nifty Next 50 Index (NIFTYJR INDEX EQUITY)

FDI in India: 2000 to 2024 – A Journey to $1 Trillion

India surpasses $1 trillion in FDI since 2000, showing economic progress post-2014, but highlights need for balanced growth and policy optimization.

Nimish Maheshwari

India: Policy Rate to Decline 75bp by Jun'25 as Inflation Recedes

WPI inflation at 1.9% implies +4.6% real policy rate. Strong winter harvest to lower food prices, enabling CPI moderation below 4%YoY by Apr'25....

Prasenjit K. Basu

Thematic Report: Bets Beyond the Giants, How Institutional Investors Are Betting on Smaller Stocks

Investors in the Indian securities market are diversifying towards mid- and small-cap stocks for growth opportunities, leading to declining HHI...

Nimish Maheshwari

Aequitas: Jio Platforms Pre-IPO - Peer Comparison

Jio Platforms is looking to raise up to US$3.75bn in its upcoming India IPO. In this note, we undertake a peer comparison.

Sumeet Singh

HDFC Bank - Ranks 2nd After Merger Compared With Asia Pacific Banks

The merger is now done, and this is more relevant, highlighting now large HDFC Bank is now in Asia Pacific, not only in India.

Daniel Tabbush

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

FDI in India: 2000 to 2024 – A Journey to $1 Trillion

​India surpasses $1 trillion in FDI since 2000, showing economic progress post-2014, but highlights need for balanced growth and policy optimization.

Nimish Maheshwari

India: Policy Rate to Decline 75bp by Jun'25 as Inflation Recedes

​WPI inflation at 1.9% implies +4.6% real policy rate. Strong winter harvest to lower food prices, enabling CPI moderation below 4%YoY by Apr'25....

Prasenjit K. Basu

Thematic Report: Bets Beyond the Giants, How Institutional Investors Are Betting on Smaller Stocks

​Investors in the Indian securities market are diversifying towards mid- and small-cap stocks for growth opportunities, leading to declining HHI...

Nimish Maheshwari

Aequitas: Jio Platforms Pre-IPO - Peer Comparison

Jio Platforms is looking to raise up to US$3.75bn in its upcoming India IPO. In this note, we undertake a peer comparison.

Sumeet Singh

HDFC Bank - Ranks 2nd After Merger Compared With Asia Pacific Banks

The merger is now done, and this is more relevant, highlighting now large HDFC Bank is now in Asia Pacific, not only in India.

Daniel Tabbush

India surpasses $1 trillion in FDI since 2000, showing economic progress post-2014, but highlights need for balanced growth and policy optimization.

WPI inflation at 1.9% implies +4.6% real policy rate. Strong winter harvest to lower food prices, enabling CPI moderation below 4%YoY by Apr'25....

Investors in the Indian securities market are diversifying towards mid- and small-cap stocks for growth opportunities, leading to declining HHI...