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>US sanctions on Russian oil and rising Western pressure have pushed India’s average crude import cost $5/bbl above the Dubai benchmark, with Russia’s share slipping to ~34%.</li>
<li>Shrinking Russian discounts mean higher import bills and tighter refining margins, especially for state-run OMCs that relied on cheaper barrels.</li>
<li>India’s shift marks a strategic reset-short-term costs may rise, but stronger trade ties with the US and diversified sourcing improve long-term energy security.</li>
</ul>


US sanctions on Russian oil and rising Western pressure have pushed India’s average crude import cost $5/bbl above the Dubai benchmark, with Russia’s share slipping to ~34%.
Shrinking Russian discounts mean higher import bills and tighter refining margins, especially for state-run OMCs that relied on cheaper barrels.
India’s shift marks a strategic reset-short-term costs may rise, but stronger trade ties with the US and diversified sourcing improve long-term energy security.


Charted Insights: India’s Russian Crude Oil Windfall Gain Is Fading Away

<ul>
<li>Trump administration sanctions Russia's largest oil producers Rosneft and Lukoil effective November 21, 2025, forcing India to potentially slash Russian crude imports that currently constitute 34% of total intake.​​</li>
<li>Indian refiners face USD 3-5 billion in additional annual costs and structurally lower GRMs as they pivot to expensive Middle Eastern and US alternatives.</li>
<li>Russia's embedded role in India's energy means any shift will be costly, and margin-dilutive, setting up a 6-12 month period of procurement volatility and compressed refining spreads for Indian OMCs.​​</li>
</ul>


Trump administration sanctions Russia's largest oil producers Rosneft and Lukoil effective November 21, 2025, forcing India to potentially slash Russian crude imports that currently constitute 34% of total intake.​​
Indian refiners face USD 3-5 billion in additional annual costs and structurally lower GRMs as they pivot to expensive Middle Eastern and US alternatives.
Russia's embedded role in India's energy means any shift will be costly, and margin-dilutive, setting up a 6-12 month period of procurement volatility and compressed refining spreads for Indian OMCs.​​


Shifting Barrels: Inside India’s Painful Rebalance Away from Russian Crude

Oil and Gas, Mint Finance

Suhas Reddy

Oil and Gas

Deep Fundamental Analysis

Mint Finance

Mint Finance's investment research blends deep fundamental analysis with technical & quant insights. Investment strategies straddle across multiple asset classes with risk management embedded into every trade to deliver an outsized reward-to-risk ratio.

Mint Finance's research is centered around three key themes. First, energy transition and climate change. Second, artificial intelligence. Third, shifting world order with its impact across politics and monetary economics.

Commodities

<ul>
<li>U.S. tariffs intensify strain on the petrochemical sector, shielding domestic producers while redirecting Chinese exports into Asia and leaving European firms most exposed.</li>
<li>Trade barriers amplify oversupply pressures, benefiting U.S.-centric petrochemical firms, granting Middle Eastern players new market share, and pushing Chinese exporters into low-margin Asian markets.</li>
<li>Global petrochemicals face a reset, exposing Europe’s vulnerabilities, capping Asian gains, and reinforcing domestic advantages for American producers.</li>
</ul>


U.S. tariffs intensify strain on the petrochemical sector, shielding domestic producers while redirecting Chinese exports into Asia and leaving European firms most exposed.
Trade barriers amplify oversupply pressures, benefiting U.S.-centric petrochemical firms, granting Middle Eastern players new market share, and pushing Chinese exporters into low-margin Asian markets.
Global petrochemicals face a reset, exposing Europe’s vulnerabilities, capping Asian gains, and reinforcing domestic advantages for American producers.


U.S. Petrochemical Companies Gain Ground as European Firms Falter in U.S.-China Trade War

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

National Stock Exchange of India / Equity Capital Markets

National Stock Exchange of India (NSE IN)

<ul>
<li>
<a href="https://www.smartkarma.com/entities/national-stock-exchange" target="_blank" data-smartkarma-citation="entities:23751:1" rel="noopener">National Stock Exchange (NSEIN IN)</a> raised about US$2.4bn in its India IPO.</li>
<li>NSE operates electronic platforms for trading equities, derivatives, currencies, and debt securities, also earning revenue from clearing and settlement services, market data, index licensing, listing fees, connectivity, and technology services.</li>
<li>We have looked at the company’s past performance and valuations in our previous note. In this note, we will talk about the trading dynamics.</li>
</ul>



National Stock Exchange (NSEIN IN) raised about US$2.4bn in its India IPO.
NSE operates electronic platforms for trading equities, derivatives, currencies, and debt securities, also earning revenue from clearing and settlement services, market data, index licensing, listing fees, connectivity, and technology services.
We have looked at the company’s past performance and valuations in our previous note. In this note, we will talk about the trading dynamics.


Aequtias: NSE IPO Trading - Weakish Demand Probably Flattish Debut

<ul>
<li>WTI crude prices are pressured by oversupply and weak sentiment, but received support late-week by a strong inventory draw and improved outlook for U.S.-EU trade talks. </li>
<li>U.S. natural gas prices dipped early due to high output and mild weather but recovered slightly on heat-driven demand, with ample storage limiting further upside.</li>
<li>Oil and gas corporate updates showed mixed earnings and strategy shifts, with Halliburton guiding lower, BP appointing a new chairman, and SLB falling despite beating expectations.</li>
</ul>


WTI crude prices are pressured by oversupply and weak sentiment, but received support late-week by a strong inventory draw and improved outlook for U.S.-EU trade talks. 
U.S. natural gas prices dipped early due to high output and mild weather but recovered slightly on heat-driven demand, with ample storage limiting further upside.
Oil and gas corporate updates showed mixed earnings and strategy shifts, with Halliburton guiding lower, BP appointing a new chairman, and SLB falling despite beating expectations.


[ETP 2025/30] TotalEnergies Lifts Payouts, BP Reboots Leadership; WTI Recovers While Henry Hub Drops

India

Reliance Industries is an Indian multinational conglomerate with diverse businesses including energy, petrochemicals, oil and gas exploration, telecommunications (Jio), and retail (Reliance Retail). The company is a major producer of petroleum products and a significant player in digital services and consumer goods. Reliance Industries is headquartered in Mumbai, India, and was founded in 1958.

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Reliance Industries (RELIANCE IN)

Charted Insights: India’s Russian Crude Oil Windfall Gain Is Fading Away

US sanctions on Russian oil have increased India's crude import costs above the Dubai benchmark, leading to a shift in sourcing and potential long...

Nimish Maheshwari

Shifting Barrels: Inside India’s Painful Rebalance Away from Russian Crude

Trump sanctions on Russian oil producers Rosneft and Lukoil will force India to cut imports, leading to higher costs and lower margins as they...

Nimish Maheshwari

U.S. Petrochemical Companies Gain Ground as European Firms Falter in U.S.-China Trade War

U.S. tariffs on petrochemicals shift global trade dynamics, benefiting American producers, Middle Eastern players, and low-margin Asian markets...

Mint Finance

Aequtias: NSE IPO Trading - Weakish Demand Probably Flattish Debut

National Stock Exchange (NSEIN IN) raised about US$2.4bn in its India IPO. In this note, we talk about the trading dynamics.

Sumeet Singh

[ETP 2025/30] TotalEnergies Lifts Payouts, BP Reboots Leadership; WTI Recovers While Henry Hub Drops

WTI crude prices face pressure from oversupply and weak sentiment. US natural gas prices dip due to high output and mild weather. Oil & Gas...

Mint Finance

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Charted Insights: India’s Russian Crude Oil Windfall Gain Is Fading Away

​US sanctions on Russian oil have increased India's crude import costs above the Dubai benchmark, leading to a shift in sourcing and potential long...

Nimish Maheshwari

Shifting Barrels: Inside India’s Painful Rebalance Away from Russian Crude

​Trump sanctions on Russian oil producers Rosneft and Lukoil will force India to cut imports, leading to higher costs and lower margins as they...

Nimish Maheshwari

U.S. Petrochemical Companies Gain Ground as European Firms Falter in U.S.-China Trade War

​U.S. tariffs on petrochemicals shift global trade dynamics, benefiting American producers, Middle Eastern players, and low-margin Asian markets...

Mint Finance

Aequtias: NSE IPO Trading - Weakish Demand Probably Flattish Debut

National Stock Exchange (NSEIN IN) raised about US$2.4bn in its India IPO. In this note, we talk about the trading dynamics.

Sumeet Singh

[ETP 2025/30] TotalEnergies Lifts Payouts, BP Reboots Leadership; WTI Recovers While Henry Hub Drops

​WTI crude prices face pressure from oversupply and weak sentiment. US natural gas prices dip due to high output and mild weather. Oil & Gas...

Mint Finance

US sanctions on Russian oil have increased India's crude import costs above the Dubai benchmark, leading to a shift in sourcing and potential long...

Trump sanctions on Russian oil producers Rosneft and Lukoil will force India to cut imports, leading to higher costs and lower margins as they...

U.S. tariffs on petrochemicals shift global trade dynamics, benefiting American producers, Middle Eastern players, and low-margin Asian markets...

WTI crude prices face pressure from oversupply and weak sentiment. US natural gas prices dip due to high output and mild weather. Oil & Gas...