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>Ola secured Auto-PLI compliance for its Gen-3 scooters and guided first deliveries with in-house “Bharat” 4680 cells in Q2 FY26, with heavy rare-earth-free motors in Q3 FY26. </li>
<li>ACC-PLI plus Auto-PLI and insourced cells/motors can lift gross margins structurally, derisk China-centric magnet supply, and shift Ola from assembler to integrated value-chain player.</li>
<li>Watch PLI accrual from Q2 FY26, the 1.4→5 GWh cell ramp, and ferrite motor rollout in Q3 FY26. Execution across these will validate the “not just an EV company” narrative.</li>
</ul>


Ola secured Auto-PLI compliance for its Gen-3 scooters and guided first deliveries with in-house “Bharat” 4680 cells in Q2 FY26, with heavy rare-earth-free motors in Q3 FY26. 
ACC-PLI plus Auto-PLI and insourced cells/motors can lift gross margins structurally, derisk China-centric magnet supply, and shift Ola from assembler to integrated value-chain player.
Watch PLI accrual from Q2 FY26, the 1.4→5 GWh cell ramp, and ferrite motor rollout in Q3 FY26. Execution across these will validate the “not just an EV company” narrative.


Ola Electric 2.0: From Scooters to Cells and Rare-Earth-Free Motors

Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Periscope Analytics

Periscope Analytics focuses on event-driven trades across Asia Pacific and provides comprehensive, timely and systematic coverage of index changes to major Asia Pacific indices in a structured manner.

The analysis includes forecasted inclusions and exclusions to all major Asian indices that have significant amount of tracking assets, including estimates of passive buy/sell flow on the stocks. The service also provides commentary and impact of market consultations, ground rule changes, and other events (IPOs, spin-offs, M&A) that could lead to index changes and passive flow.

Periscope Analytics works with multi-strategy hedge funds, proprietary trading firms, stat arb trading groups and long-only investors that invest and trade in the Asia Pacific region with the data being used to trade index rebalances, avoid pre-positioning and passive flow, and to time entry into and exit from stocks.

Event-Driven Trades Across Asia Pacific

Index Rebalance

<ul>
<li>With the review period now complete, there could be 11 changes for the NIFTY Midcap 150 Index at the September rebalance.</li>
<li>Estimated one-way turnover is 7.7% resulting in a round-trip trade of INR 17.6bn (US$201m). With over US$43bn tracking the index actively, the impact on the stocks will be much larger.</li>
<li>The outright forecast adds have outperformed the forecast deletes over the last 4 months and there has been a jump in the last week.</li>
</ul>


With the review period now complete, there could be 11 changes for the NIFTY Midcap 150 Index at the September rebalance.
Estimated one-way turnover is 7.7% resulting in a round-trip trade of INR 17.6bn (US$201m). With over US$43bn tracking the index actively, the impact on the stocks will be much larger.
The outright forecast adds have outperformed the forecast deletes over the last 4 months and there has been a jump in the last week.


NIFTY MIDCAP150 Index Rebalance Preview: 11 Potential Changes in September

<ul>
<li>Ola Electric reported a strong 35.5% QoQ increase in revenue, with a significant 32.7% increase in vehicle deliveries</li>
<li>Overall company showed a rebound and improvement in operational and financial performance, along with strong guidance for FY26.</li>
<li>Though the company continue to face key headwinds in terms of cost pressures, rare-earth related macro headwinds along with increased competition and regulatory challenges.</li>
</ul>


Ola Electric reported a strong 35.5% QoQ increase in revenue, with a significant 32.7% increase in vehicle deliveries
Overall company showed a rebound and improvement in operational and financial performance, along with strong guidance for FY26.
Though the company continue to face key headwinds in terms of cost pressures, rare-earth related macro headwinds along with increased competition and regulatory challenges.


Can Ola Electric Stage a Strong Comeback? Analyzing Its Current Performance & Future Potential

Equity Analyst - Asia Consumer Sector, Investory

Devi Subhakesan

Equity Analyst - Asia Consumer Sector

ASIA CONSUMER: INSIGHTS AND INVESTMENT IDEAS

Investory

Investory is a Singapore-based boutique independent equity research firm founded in January 2017 with a primary focus on consumption themes across Asia-Pacific.

We aim to generate investible ideas based on consumption trends and outlook. We screen our ideas on several parameters - product potential, long-term growth and management commitment being the most critical.  We follow a fundamental analysis approach in our stock selection process and are not restricted by market cap.

We aspire to grow into a leading source of unbiased research, free of conflict of interest, for investors yearning for independent and disciplined analysis. 

We also undertake bespoke research mandates to support our Institutional clients’ investment needs.

Our team comprises of professionals with extensive experience in the Asian equity markets, in areas ranging from research, servicing institutional clients and investment management.

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/hyundai-motor-co" target="_blank" data-smartkarma-citation="entities:155:1" rel="noopener">Hyundai Motor (005380 KS)</a>  and <a href="https://www.smartkarma.com/entities/kia-corp" target="_blank" data-smartkarma-citation="entities:156:1" rel="noopener">Kia Corp (000270 KS)</a> have exited their investment in <a href="https://www.smartkarma.com/entities/ola-electric-mobility-pvt-ltd" target="_blank" data-smartkarma-citation="entities:40618:1" rel="noopener">Ola Electric</a> through a combined stake sale worth USD80 million, at a discount to market prices.</li>
<li>The exit marks the end of their 2019 investment in the then-unlisted 2W EV startup and highlights rising investor concerns over Ola Electric’s growth trajectory and operational challenges.</li>
<li>Ola Electric had listed less than a year ago with bullish growth projections, but the stock is down  34% from the issue price and 63% from post-IPO high prices.</li>
</ul>



Hyundai Motor (005380 KS)  and Kia Corp (000270 KS) have exited their investment in Ola Electric through a combined stake sale worth USD80 million, at a discount to market prices.
The exit marks the end of their 2019 investment in the then-unlisted 2W EV startup and highlights rising investor concerns over Ola Electric’s growth trajectory and operational challenges.
Ola Electric had listed less than a year ago with bullish growth projections, but the stock is down  34% from the issue price and 63% from post-IPO high prices.


Ola Electric: Hyundai Exits Amid Slowing Sales, Delayed Cells and Fundraising Plans.

<ul>
<li>There are 17 changes a side for the NIFTY Midcap 150 Index at the March rebalance. There are many stocks with flows from passive trackers of other indices.</li>
<li>Estimated one-way turnover is 9.2% resulting in a round-trip trade of INR 15.9bn (US$184m). With over US$40bn tracking the index actively, the impact on the stocks will be much larger.</li>
<li>There are many stocks with opposing flows from <a href="https://www.smartkarma.com/entities/nse-nifty-next-50-index" target="_blank" data-smartkarma-citation="entities:36053:1" rel="noopener">NSE Nifty Next 50 Index</a> trackers. <a href="https://www.smartkarma.com/entities/ola-electric-mobility-pvt-ltd" target="_blank" data-smartkarma-citation="entities:40618:1" rel="noopener">Ola Electric (OLAELEC IN)</a> will have inflows from multiple index trackers over the next month.</li>
</ul>


There are 17 changes a side for the NIFTY Midcap 150 Index at the March rebalance. There are many stocks with flows from passive trackers of other indices.
Estimated one-way turnover is 9.2% resulting in a round-trip trade of INR 15.9bn (US$184m). With over US$40bn tracking the index actively, the impact on the stocks will be much larger.
There are many stocks with opposing flows from NSE Nifty Next 50 Index trackers. Ola Electric (OLAELEC IN) will have inflows from multiple index trackers over the next month.


NIFTY MIDCAP150 Index Rebalance: 17 Changes a Side; Lots of Overlap with Other Index Flow

India

OLA Electric Mobility Limited manufactures electric vehicles. The Company focuses on designing, engineering, and manufacturing of electric scooters and bikes, as well as components like battery packs, motors, and vehicle frames. OLA Electric Mobility serves customers worldwide.

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Ola Electric (OLAELEC IN)

Ola Electric 2.0: From Scooters to Cells and Rare-Earth-Free Motors

Ola's strategic moves towards Auto-PLI compliance and in-house cell/motor production aim to boost margins, reduce supply chain risks, and position...

Nimish Maheshwari

NIFTY MIDCAP150 Index Rebalance Preview: 11 Potential Changes in September

There could be 11 changes in Sep. Estimated one-way turnover is 7.7% and round-trip trade is INR 17.6bn. With over US$43bn tracking the index...

Brian Freitas

Can Ola Electric Stage a Strong Comeback? Analyzing Its Current Performance & Future Potential

Ola Electric sees strong revenue growth and vehicle deliveries, but faces challenges from cost pressures, macro headwinds, competition, and...

Nimish Maheshwari

Ola Electric: Hyundai Exits Amid Slowing Sales, Delayed Cells and Fundraising Plans.

Hyundai Motor and Kia Corp's stake sale in Ola Electric for $80 million at a discount to street prices, signals investor concerns over growth and...

Devi Subhakesan

NIFTY MIDCAP150 Index Rebalance: 17 Changes a Side; Lots of Overlap with Other Index Flow

There are 17 changes for the index in March. Estimated one-way turnover is 9.2% resulting in a one-way trade of INR15.9bn. There are many stocks...

Brian Freitas

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52-week Range

Market Cap (USDm)

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Ola Electric 2.0: From Scooters to Cells and Rare-Earth-Free Motors

​Ola's strategic moves towards Auto-PLI compliance and in-house cell/motor production aim to boost margins, reduce supply chain risks, and position...

Nimish Maheshwari

NIFTY MIDCAP150 Index Rebalance Preview: 11 Potential Changes in September

There could be 11 changes in Sep. Estimated one-way turnover is 7.7% and round-trip trade is INR 17.6bn. With over US$43bn tracking the index...

Brian Freitas

Can Ola Electric Stage a Strong Comeback? Analyzing Its Current Performance & Future Potential

​Ola Electric sees strong revenue growth and vehicle deliveries, but faces challenges from cost pressures, macro headwinds, competition, and...

Nimish Maheshwari

Ola Electric: Hyundai Exits Amid Slowing Sales, Delayed Cells and Fundraising Plans.

​Hyundai Motor and Kia Corp's stake sale in Ola Electric for $80 million at a discount to street prices, signals investor concerns over growth and...

Devi Subhakesan

NIFTY MIDCAP150 Index Rebalance: 17 Changes a Side; Lots of Overlap with Other Index Flow

There are 17 changes for the index in March. Estimated one-way turnover is 9.2% resulting in a one-way trade of INR15.9bn. There are many stocks...

Brian Freitas

Ola's strategic moves towards Auto-PLI compliance and in-house cell/motor production aim to boost margins, reduce supply chain risks, and position...

Ola Electric sees strong revenue growth and vehicle deliveries, but faces challenges from cost pressures, macro headwinds, competition, and...

Hyundai Motor and Kia Corp's stake sale in Ola Electric for $80 million at a discount to street prices, signals investor concerns over growth and...