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>Q2 FY26 saw Reliance Industries deliver robust, broad-based growth led by Consumer and Digital segments, concurrent with accelerated deployment of AI infrastructure and Green Energy assets.</li>
<li>The consumer-facing businesses now contribute nearly 50% of Group EBITDA, structurally de-risking the conglomerate from O2C volatility while cementing its positioning for India’s twin tailwinds: Digital Transformation and Energy Transition.</li>
<li>RIL’s aggressive, integrated strategy across AI and New Energy warrants a closer look at how these massive long-cycle projects are set to redefine the Group’s fundamental profile over the years.</li>
</ul>


Q2 FY26 saw Reliance Industries deliver robust, broad-based growth led by Consumer and Digital segments, concurrent with accelerated deployment of AI infrastructure and Green Energy assets.
The consumer-facing businesses now contribute nearly 50% of Group EBITDA, structurally de-risking the conglomerate from O2C volatility while cementing its positioning for India’s twin tailwinds: Digital Transformation and Energy Transition.
RIL’s aggressive, integrated strategy across AI and New Energy warrants a closer look at how these massive long-cycle projects are set to redefine the Group’s fundamental profile over the years.


Reliance Industries Q2FY26: Are New Energy and AI the Next Engines of Value Creation?

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

<ul>
<li>
<a href="https://www.smartkarma.com/entities/meesho-inc" target="_blank" data-smartkarma-citation="entities:35872:1" rel="noopener">Meesho (1546271D IN) </a>is looking to raise around US$607m in its upcoming India IPO.</li>
<li>Meesho is an e-commerce marketplace, offering a wide assortment of products ranging from low cost unbranded products, regional and national brands at affordable prices to consumers.</li>
<li>In our earlier notes, we have looked at the company’s past performance earlier. In this note, we talk about the implied valuations in the price range.</li>
</ul>



Meesho (1546271D IN) is looking to raise around US$607m in its upcoming India IPO.
Meesho is an e-commerce marketplace, offering a wide assortment of products ranging from low cost unbranded products, regional and national brands at affordable prices to consumers.
In our earlier notes, we have looked at the company’s past performance earlier. In this note, we talk about the implied valuations in the price range.


Meesho Ltd IPO - Value-Led Play, Moderately Priced

Partner at Exencial Research, Exencial Research

Viral Kishorchandra Shah

Partner at Exencial Research

Exencial Research

<ul>
<li>Jio dominates telecom with 42% market share and 480M+ subscribers, driving India's 5G revolution.</li>
<li>Spans oil-chemicals, retail, digital services, renewable energy with vertical integration advantages across sectors.</li>
<li>Targeting Net Carbon Zero by 2035 with 100 GW renewable capacity and world's largest green energy ecosystem.</li>
</ul>


Jio dominates telecom with 42% market share and 480M+ subscribers, driving India's 5G revolution.
Spans oil-chemicals, retail, digital services, renewable energy with vertical integration advantages across sectors.
Targeting Net Carbon Zero by 2035 with 100 GW renewable capacity and world's largest green energy ecosystem.


India's Industrial Transformation: A Comprehensive Ind Primer on Reliance Ind Multi-Sector Dominance

Equity Derivatives and Volatility Specialist, Clifton Derivatives

John Ley

Equity Derivatives and Volatility Specialist

Clifton Derivatives

Independent derivative and volatility research firm focusing on events/catalysts, earnings, relative value and cross asset volatility strategies.

Equity Derivatives

<ul>
<li>
<a href="https://www.smartkarma.com/entities/hong-kong-hang-seng-index" target="_blank" data-smartkarma-citation="entities:22899" rel="noopener">Hang Seng Index (HSI INDEX)</a>, <a href="https://www.smartkarma.com/entities/shanghai-shenzhen-csi-300-index" target="_blank" data-smartkarma-citation="entities:22906" rel="noopener">Shanghai Shenzhen CSI 300 Index (SHSZ300 INDEX EQUITY)</a> and <a href="https://www.smartkarma.com/entities/nikkei-225" target="_blank" data-smartkarma-citation="entities:22909" rel="noopener">Nikkei 225 (NKY INDEX)</a> all have elevated implied vols vs their peers and vs historical observations for October.</li>
<li>
<a href="https://www.smartkarma.com/entities/nifty-index" target="_blank" data-smartkarma-citation="entities:23617" rel="noopener">NIFTY Index (NIFTY INDEX)</a> , <a href="https://www.smartkarma.com/entities/s-p-500-index" target="_blank" data-smartkarma-citation="entities:22886" rel="noopener">S&amp;P 500 INDEX (SPX INDEX)</a> and <a href="https://www.smartkarma.com/entities/s-p-asx-200" target="_blank" data-smartkarma-citation="entities:22901" rel="noopener">S&amp;P/ASX 200 (AS51 INDEX)</a>  implied vols are on the low end of what is typically realized in October.</li>
<li>Most markets see price weakness in the 3rd week of the month with realized volatility underperforming over the back half of the month.</li>
</ul>



Hang Seng Index (HSI INDEX), Shanghai Shenzhen CSI 300 Index (SHSZ300 INDEX EQUITY) and Nikkei 225 (NKY INDEX) all have elevated implied vols vs their peers and vs historical observations for October.

NIFTY Index (NIFTY INDEX) , S&amp;P 500 INDEX (SPX INDEX) and S&amp;P/ASX 200 (AS51 INDEX)  implied vols are on the low end of what is typically realized in October.
Most markets see price weakness in the 3rd week of the month with realized volatility underperforming over the back half of the month.


EQD | Asia Monthly Vol Roadmap: Elevated IV's in CSI300 and Hang Seng Present Tactical Opportunity

India Equity Analyst - Fundamental & Thematic, Beat the Street

Sudarshan Bhandari

India Equity Analyst - Fundamental & Thematic

<ul>
<li>
<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> has relaunched Campa Cola with a disruptive INR 10 price tag, targeting Bharat through regional branding, aggressive retail margins, and deep distribution.</li>
<li>Campa’s revival is shaking up India’s INR 50,000 crore soft drink market, challenging Pepsi and Coke with rapid share gains and frenzied rural demand.</li>
<li>This is not nostalgia, it’s Ambani’s Jio-style FMCG disruption. Expect more brand revivals, deeper pricing wars, and a new cola war driven from the grassroots.</li>
</ul>



Reliance Industries (RIL IN) has relaunched Campa Cola with a disruptive INR 10 price tag, targeting Bharat through regional branding, aggressive retail margins, and deep distribution.
Campa’s revival is shaking up India’s INR 50,000 crore soft drink market, challenging Pepsi and Coke with rapid share gains and frenzied rural demand.
This is not nostalgia, it’s Ambani’s Jio-style FMCG disruption. Expect more brand revivals, deeper pricing wars, and a new cola war driven from the grassroots.


Reliance's Campa Cola Comeback: Disrupting India’s Soft Drink Market

India

Reliance Industries Ltd. manufactures petrochemicals, synthetic fibers, fiber intermediates, textiles, blended yarn and polyester staple fiber. The Company also owns a petroleum refinery cum petrochemicals complex in Jamnagar, India that produces a wide range of products such as gasoline, superior kerosene oil and liquefied petroleum gas.

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Reliance Industries (RELIANCE IN)

Reliance Industries Q2FY26: Are New Energy and AI the Next Engines of Value Creation?

Reliance Industries reports strong Q2 FY26 growth driven by consumer and digital segments, highlighting shift towards AI and Green Energy assets...

Nimish Maheshwari

Meesho Ltd IPO - Value-Led Play, Moderately Priced

Meesho Ltd (ML) is looking to raise around US$607m in its upcoming India IPO. In this note, we talk about the company’s implied valuations in the...

Akshat Shah

India's Industrial Transformation: A Comprehensive Ind Primer on Reliance Ind Multi-Sector Dominance

Jio's dominance in telecom and vertical integration across sectors positions it as a key player in India's 5G revolution and pursuit of Net Carbon...

Viral Kishorchandra Shah

EQD | Asia Monthly Vol Roadmap: Elevated IV's in CSI300 and Hang Seng Present Tactical Opportunity

Implied volatility levels across key Asian indices present several tactical opportunities this month for outright or pairs trades...

John Ley

Reliance's Campa Cola Comeback: Disrupting India’s Soft Drink Market

Reliance Consumer Products is set to invest ₹6,000-8,000 crore to expand its beverage business, challenging Coca-Cola and PepsiCo. Company is...

Sudarshan Bhandari

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Reliance Industries Q2FY26: Are New Energy and AI the Next Engines of Value Creation?

​Reliance Industries reports strong Q2 FY26 growth driven by consumer and digital segments, highlighting shift towards AI and Green Energy assets...

Nimish Maheshwari

Meesho Ltd IPO - Value-Led Play, Moderately Priced

Meesho Ltd (ML) is looking to raise around US$607m in its upcoming India IPO. In this note, we talk about the company’s implied valuations in the...

Akshat Shah

India's Industrial Transformation: A Comprehensive Ind Primer on Reliance Ind Multi-Sector Dominance

​Jio's dominance in telecom and vertical integration across sectors positions it as a key player in India's 5G revolution and pursuit of Net Carbon...

Viral Kishorchandra Shah

EQD | Asia Monthly Vol Roadmap: Elevated IV's in CSI300 and Hang Seng Present Tactical Opportunity

​Implied volatility levels across key Asian indices present several tactical opportunities this month for outright or pairs trades...

John Ley

Reliance's Campa Cola Comeback: Disrupting India’s Soft Drink Market

Reliance Consumer Products is set to invest ₹6,000-8,000 crore to expand its beverage business, challenging Coca-Cola and PepsiCo. Company is...

Sudarshan Bhandari

Reliance Industries reports strong Q2 FY26 growth driven by consumer and digital segments, highlighting shift towards AI and Green Energy assets...

Jio's dominance in telecom and vertical integration across sectors positions it as a key player in India's 5G revolution and pursuit of Net Carbon...

Implied volatility levels across key Asian indices present several tactical opportunities this month for outright or pairs trades...