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>Indian REITs returned ~29.7% in CY2025, outperforming the Nifty 50 TRI (11.4%) amid broad equity turbulence driven by FII exodus, tariff shocks, and rupee depreciation.</li>
<li>With beta of just 0.25 and correlation below 25% to equities, REITs and InvITs offer rare predictable income in world where geopolitics, trade wars are repricing risk across asset class.</li>
<li>The sector's AUM is poised to triple by 2030, rate tailwinds persist, and cumulatively over Rs.26,500 crore has been distributed since 2019.</li>
</ul>


Indian REITs returned ~29.7% in CY2025, outperforming the Nifty 50 TRI (11.4%) amid broad equity turbulence driven by FII exodus, tariff shocks, and rupee depreciation.
With beta of just 0.25 and correlation below 25% to equities, REITs and InvITs offer rare predictable income in world where geopolitics, trade wars are repricing risk across asset class.
The sector's AUM is poised to triple by 2030, rate tailwinds persist, and cumulatively over Rs.26,500 crore has been distributed since 2019.


Anchors in the Storm: How Indian REITs and InvITs Can Stabilize Your Portfolio?

India Equity Analyst - Fundamental & Thematic, Beat the Street

Sudarshan Bhandari

India Equity Analyst - Fundamental & Thematic

<ul>
<li>L&amp;T Secures Rs 10,000-15,000 Crore Order in the Middle East</li>
<li>Power Grid Corporation Shares Rise After Winning Key Transmission Projects</li>
<li>NHPC to Raise INR 2,300 Crore for Expansion through Securitization</li>
</ul>


L&amp;T Secures Rs 10,000-15,000 Crore Order in the Middle East
Power Grid Corporation Shares Rise After Winning Key Transmission Projects
NHPC to Raise INR 2,300 Crore for Expansion through Securitization


# 62 India Insight: HDFC Bank Plans INR 60K Loan Sale, L&T Order, NHPC INR 2,300 Crore Expansion

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

Raajmarg Infra Investment Trust / Equity Capital Markets

Raajmarg Infra Investment Trust (RIIT IN)

<ul>
<li>
<a href="https://www.smartkarma.com/entities/raajmarg-infra-investment-trust" target="_blank" data-smartkarma-citation="entities:47598:1" rel="noopener">Raajmarg Infra Investment Trust (RIIT IN)</a> raised around US$650m in its India IPO.</li>
<li>RIIT owns and manages a portfolio of five highway assets in India spread across six cities, like Tamil Nadu, Karnataka, Jharkhand, and Andhra Pradesh, as per the CARE Industry Report.</li>
<li>We have looked at the company’s past performance and valuations in our previous notes. In this note, we will talk about the trading dynamics.</li>
</ul>



Raajmarg Infra Investment Trust (RIIT IN) raised around US$650m in its India IPO.
RIIT owns and manages a portfolio of five highway assets in India spread across six cities, like Tamil Nadu, Karnataka, Jharkhand, and Andhra Pradesh, as per the CARE Industry Report.
We have looked at the company’s past performance and valuations in our previous notes. In this note, we will talk about the trading dynamics.


Aequitas: Raajmarg Infra InvIT IPO Trading - Decent Demand; Leads Past REIT Listings

<ul>
<li>
<a href="https://www.smartkarma.com/entities/raajmarg-infra-investment-trust" target="_blank" data-smartkarma-citation="entities:47598:1" rel="noopener">Raajmarg Infra Investment Trust (RIIT IN)</a> is planning to raise about US$652m through its India IPO.</li>
<li>RIIT owns and manages a portfolio of five highway assets in India spread across six cities, like Tamil Nadu, Karnataka, Jharkhand, and Andhra Pradesh, as per the CARE Industry Report.</li>
<li>In this note, we talk about the company’s historical performance, peer comparison and IPO valuations.</li>
</ul>



Raajmarg Infra Investment Trust (RIIT IN) is planning to raise about US$652m through its India IPO.
RIIT owns and manages a portfolio of five highway assets in India spread across six cities, like Tamil Nadu, Karnataka, Jharkhand, and Andhra Pradesh, as per the CARE Industry Report.
In this note, we talk about the company’s historical performance, peer comparison and IPO valuations.


Aequitas: Raajmarg InvIT IPO - Stable Assets in a Small Portfolio, but Limited Immediate Appeal

Orkla India Ltd. / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/orkla-india-ltd" target="_blank" data-smartkarma-citation="entities:45300:1" rel="noopener">Orkla India Ltd. (0752506D IN)</a> is looking to raise about US$300m in its upcoming India IPO.</li>
<li>Orkla India is a multi-category food company offering a diverse range of spices and convenience food products, catering to every meal occasion across breakfast, lunch, dinner, snacks, beverages and desserts.</li>
<li>In this note, we talk about the company’s historical performance.</li>
</ul>



Orkla India Ltd. (0752506D IN) is looking to raise about US$300m in its upcoming India IPO.
Orkla India is a multi-category food company offering a diverse range of spices and convenience food products, catering to every meal occasion across breakfast, lunch, dinner, snacks, beverages and desserts.
In this note, we talk about the company’s historical performance.


Orkla India Pre-IPO - Strong Market Presence, Growth Yet to Catch Up

India

Powergrid Infrastructure Investment Trust (PGInvIT) is an India-based infrastructure investment trust (InvIT) that owns, constructs, operates, maintains, and invests in assets within the power and power transmission sector. It holds a portfolio of power transmission projects across India, providing predictable cash flows through long-term transmission service agreements. The Trust was registered with SEBI in January 2021 and has its headquarters in Gurugram, Haryana.

Powergrid Infrastructure Investment Trust (PGINVIT IN)

Powergrid Infrastructure Investment Trust

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Powergrid Infrastructure Investment Trust (PGINVIT IN)

Anchors in the Storm: How Indian REITs and InvITs Can Stabilize Your Portfolio?

Indian REITs outperformed Nifty 50 in 2025 amid market turbulence, offering predictable income and poised for growth with AUM set to triple by 2030.

Nimish Maheshwari

# 62 India Insight: HDFC Bank Plans INR 60K Loan Sale, L&T Order, NHPC INR 2,300 Crore Expansion

Indian infrastructure companies secure major contracts and funding for expansion in the Middle East and domestically, driving stock prices up.

Sudarshan Bhandari

Aequitas: Raajmarg Infra InvIT IPO Trading - Decent Demand; Leads Past REIT Listings

Raajmarg Infra Investment Trust (RIIT) raised around US$650m in its India IPO. In this note, we will talk about the demand and the trading dynamics.

Akshat Shah

Aequitas: Raajmarg InvIT IPO - Stable Assets in a Small Portfolio, but Limited Immediate Appeal

Raajmarg Infra Investment Trust (RIIT) is planning to raise about US$652m through its India IPO. In this note, we talk about the company’s...

Akshat Shah

Orkla India Pre-IPO - Strong Market Presence, Growth Yet to Catch Up

Orkla India has launched a smaller IPO of up to INR 16.6bn (US$190m) in a INR695–730 range. Anchor books open on 28th October, with the rest of the...

Akshat Shah

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Anchors in the Storm: How Indian REITs and InvITs Can Stabilize Your Portfolio?

​Indian REITs outperformed Nifty 50 in 2025 amid market turbulence, offering predictable income and poised for growth with AUM set to triple by 2030.

Nimish Maheshwari

# 62 India Insight: HDFC Bank Plans INR 60K Loan Sale, L&T Order, NHPC INR 2,300 Crore Expansion

​Indian infrastructure companies secure major contracts and funding for expansion in the Middle East and domestically, driving stock prices up.

Sudarshan Bhandari

Aequitas: Raajmarg Infra InvIT IPO Trading - Decent Demand; Leads Past REIT Listings

Raajmarg Infra Investment Trust (RIIT) raised around US$650m in its India IPO. In this note, we will talk about the demand and the trading dynamics.

Akshat Shah

Aequitas: Raajmarg InvIT IPO - Stable Assets in a Small Portfolio, but Limited Immediate Appeal

Raajmarg Infra Investment Trust (RIIT) is planning to raise about US$652m through its India IPO. In this note, we talk about the company’s...

Akshat Shah

Orkla India Pre-IPO - Strong Market Presence, Growth Yet to Catch Up

Orkla India has launched a smaller IPO of up to INR 16.6bn (US$190m) in a INR695–730 range. Anchor books open on 28th October, with the rest of the...

Akshat Shah

Indian REITs outperformed Nifty 50 in 2025 amid market turbulence, offering predictable income and poised for growth with AUM set to triple by 2030.

Indian infrastructure companies secure major contracts and funding for expansion in the Middle East and domestically, driving stock prices up.