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

Thematic (Sector/Industry)

<ul>
<li>What will be implication in case of weaker Modi &amp; BJP mandate?</li>
<li>Public Sector and State-Owned Bank Shares Plunge whole day after poor BJP tally during counting.</li>
<li>Improvement in <a href="https://www.smartkarma.com/entities/tata-steel-ltd" target="_blank" data-smartkarma-citation="entities:20934:1" rel="noopener">Tata Steel Ltd (TATA IN)</a>'s credit profile by FY25 and Higher RoCE for <a href="https://www.smartkarma.com/entities/bharti-airtel-ltd" target="_blank" data-smartkarma-citation="entities:953:1" rel="noopener">Bharti Airtel (BHARTI IN)</a> and <a href="https://www.smartkarma.com/entities/reliance-industries-ltd" target="_blank" data-smartkarma-citation="entities:198:1" rel="noopener">Reliance Industries (RIL IN)</a> </li>
</ul>


What will be implication in case of weaker Modi &amp; BJP mandate?
Public Sector and State-Owned Bank Shares Plunge whole day after poor BJP tally during counting.
Improvement in Tata Steel Ltd (TATA IN)'s credit profile by FY25 and Higher RoCE for Bharti Airtel (BHARTI IN) and Reliance Industries (RIL IN) 


#7 India Insights: Weaker Modi Mandate, Plunging PSUs, Tata Steel Credit Profile, Reliance, Airtel

External broker reports(aggregated public sources), Axis Direct

Axis Direct

External broker reports(aggregated public sources)

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank 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.

Cross Asset Strategy

<ul><li>The results of the Current Loksabha elections are due on 4th Jun’24.</li><li>Exit polls published after the last phase of voting on 1st Jun’24 unanimously predicted the clear majority for the ruling party NDA and forecast the third term for PM Modi.</li><li>The average of all the Exit polls forecast 370+ seats for the ruling party NDA. </li></ul><p><em>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.</em></p>

The results of the Current Loksabha elections are due on 4th Jun’24.Exit polls published after the last phase of voting on 1st Jun’24 unanimously predicted the clear majority for the ruling party NDA and forecast the third term for PM Modi.The average of all the Exit polls forecast 370+ seats for the ruling party NDA. 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.

Equity Investment Strategy - “Feel Good” Factor on Expectations of Policy Continuity"

<ul>
<li>Adani Group readying its war-chest with the fund raise as it recovered from Hindenburg Saga</li>
<li>Reliance entering into logistics infrastructure sector with its logistics park in Chennai</li>
<li>NTPC soon to launch its renewables arm IPO of 10,000 crore after elections</li>
</ul>


Adani Group readying its war-chest with the fund raise as it recovered from Hindenburg Saga
Reliance entering into logistics infrastructure sector with its logistics park in Chennai
NTPC soon to launch its renewables arm IPO of 10,000 crore after elections


#2 India Insights: Adani on Fundraising Spree, RIL Betting on Logistics, NTPC Green IPO Soon

<ul>
<li>JLR to produce cars in India but for the first time</li>
<li>Reliance - Airtel may tussle on the African Markets after Indian Market</li>
<li>FII may show interest to Indian Markets to reap benefits of demographic dividends</li>
</ul>


JLR to produce cars in India but for the first time
Reliance - Airtel may tussle on the African Markets after Indian Market
FII may show interest to Indian Markets to reap benefits of demographic dividends


#1 India Insights : Tata Motors-JLR Strengthens Tie Ups, Reliance-Airtel Tussle and Macro Insights

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

Knowledge Realty Trust / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/knowledge-realty-trust" target="_blank" data-smartkarma-citation="entities:44486:1" rel="noopener">Knowledge Realty Trust (KRT IN)</a> raised about US$550m in its India IPO in Aug 2025. The lockup on its pre-IPO investors is set to expire soon.</li>
<li>KRT is India's largest office REIT by gross asset value, owning and operating a portfolio of premium Grade-A office parks leased primarily to multinational tenants across key Indian office markets.</li>
<li>In this note, we will talk about the lockup dynamics and possible placement.</li>
</ul>



Knowledge Realty Trust (KRT IN) raised about US$550m in its India IPO in Aug 2025. The lockup on its pre-IPO investors is set to expire soon.
KRT is India's largest office REIT by gross asset value, owning and operating a portfolio of premium Grade-A office parks leased primarily to multinational tenants across key Indian office markets.
In this note, we will talk about the lockup dynamics and possible placement.


Aequitas: Knowledge Realty Trust IPO Lockup Expiry - US$4bn+ Lockup Release

India

NTPC Limited is India's largest integrated power utility, primarily engaged in the generation and sale of electricity through a diversified portfolio including coal, gas, hydro, solar, and wind assets. The company also undertakes coal mining, power trading, and consultancy services for power projects. NTPC is headquartered in New Delhi, India, and was founded on November 7, 1975.

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NTPC (NTPC IN)

#7 India Insights: Weaker Modi Mandate, Plunging PSUs, Tata Steel Credit Profile, Reliance, Airtel

Weaker Modi & BJP mandate leads to plunge in PSUs and state-owned bank shares, while Tata Steel, Bharti Airtel, and Reliance Industries see credit...

Sudarshan Bhandari

Equity Investment Strategy - “Feel Good” Factor on Expectations of Policy Continuity"

Exit polls published after the last phase of voting on 1st Jun’24 unanimously predicted the clear majority for the ruling party NDA and forecast...

Axis Direct

#2 India Insights: Adani on Fundraising Spree, RIL Betting on Logistics, NTPC Green IPO Soon

Adani Group rebounds from Hindenburg Saga, Reliance ventures into logistics, NTPC to launch renewables IPO post-elections.

Sudarshan Bhandari

#1 India Insights : Tata Motors-JLR Strengthens Tie Ups, Reliance-Airtel Tussle and Macro Insights

Big Insights on India : JLR to begin car production in India, Reliance and Airtel may compete in African markets, and FIIs eye Indian markets for...

Sudarshan Bhandari

Aequitas: Knowledge Realty Trust IPO Lockup Expiry - US$4bn+ Lockup Release

Blackstone is offering to sell part of its stake in KRT, up to 25.03% for ~INR119.88bn (~US$1.26bn), at a floor price of INR108/unit. The deal...

Akshat Shah

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52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

#7 India Insights: Weaker Modi Mandate, Plunging PSUs, Tata Steel Credit Profile, Reliance, Airtel

​Weaker Modi & BJP mandate leads to plunge in PSUs and state-owned bank shares, while Tata Steel, Bharti Airtel, and Reliance Industries see credit...

Sudarshan Bhandari

Equity Investment Strategy - “Feel Good” Factor on Expectations of Policy Continuity"

Exit polls published after the last phase of voting on 1st Jun’24 unanimously predicted the clear majority for the ruling party NDA and forecast...

Axis Direct

#2 India Insights: Adani on Fundraising Spree, RIL Betting on Logistics, NTPC Green IPO Soon

​Adani Group rebounds from Hindenburg Saga, Reliance ventures into logistics, NTPC to launch renewables IPO post-elections.

Sudarshan Bhandari

#1 India Insights : Tata Motors-JLR Strengthens Tie Ups, Reliance-Airtel Tussle and Macro Insights

​Big Insights on India : JLR to begin car production in India, Reliance and Airtel may compete in African markets, and FIIs eye Indian markets for...

Sudarshan Bhandari

Aequitas: Knowledge Realty Trust IPO Lockup Expiry - US$4bn+ Lockup Release

Blackstone is offering to sell part of its stake in KRT, up to 25.03% for ~INR119.88bn (~US$1.26bn), at a floor price of INR108/unit. The deal...

Akshat Shah

Weaker Modi & BJP mandate leads to plunge in PSUs and state-owned bank shares, while Tata Steel, Bharti Airtel, and Reliance Industries see credit...

Adani Group rebounds from Hindenburg Saga, Reliance ventures into logistics, NTPC to launch renewables IPO post-elections.

Big Insights on India : JLR to begin car production in India, Reliance and Airtel may compete in African markets, and FIIs eye Indian markets for...