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>
<a href="https://www.smartkarma.com/entities/meta-platforms-inc-class-a-facebook" target="_blank" data-smartkarma-citation="entities:665:1" rel="noopener">Meta (META US)</a> and <a href="https://www.smartkarma.com/entities/reliance-industries-ltd" target="_blank" data-smartkarma-citation="entities:198:1" rel="noopener">Reliance Industries (RELIANCE IN)</a> have signed a build-to-lease agreement for 168 MW AI-data centre in Jamnagar, Gujarat, India's first purpose-built AI compute facility at this scale.</li>
<li>This deal converts Reliance's Jamnagar land bank and renewable energy access into a recurring, dollar-linked revenue stream, while entrenching RIL as the infrastructure gateway for global hyperscalers entering India.</li>
<li>The structural question is whether Jamnagar becomes a one-anchor campus or a multi-tenant AI park. Reliance's Google Cloud partnership from 2025 suggests the latter is already in motion.</li>
</ul>



Meta (META US) and Reliance Industries (RELIANCE IN) have signed a build-to-lease agreement for 168 MW AI-data centre in Jamnagar, Gujarat, India's first purpose-built AI compute facility at this scale.
This deal converts Reliance's Jamnagar land bank and renewable energy access into a recurring, dollar-linked revenue stream, while entrenching RIL as the infrastructure gateway for global hyperscalers entering India.
The structural question is whether Jamnagar becomes a one-anchor campus or a multi-tenant AI park. Reliance's Google Cloud partnership from 2025 suggests the latter is already in motion.


Reliance Making Meta's First Data Center in India!

India Equity Analyst - Fundamental & Thematic, Beat the Street

Sudarshan Bhandari

India Equity Analyst - Fundamental & Thematic

<ul>
<li>On May 29, 2026, the Supreme Court overturned SEBI’s INR 447.27 croredisgorgement order against Reliance in the 2007 RPL futures case.</li>
<li>The Court’s “economic rationale” test now sets the fraud standard, shaping how SEBI must prove manipulation in the ongoing Jane Street case.</li>
<li>Some say Reliance’s win weakens SEBI’s Jane Street case. But the judgment suggests the opposite: Jane Street fails the tests Reliance passed.</li>
</ul>


On May 29, 2026, the Supreme Court overturned SEBI’s INR 447.27 croredisgorgement order against Reliance in the 2007 RPL futures case.
The Court’s “economic rationale” test now sets the fraud standard, shaping how SEBI must prove manipulation in the ongoing Jane Street case.
Some say Reliance’s win weakens SEBI’s Jane Street case. But the judgment suggests the opposite: Jane Street fails the tests Reliance passed.


Supreme Court Overturned SEBI’s Order Against Reliance in the 2007 RPL Futures Case!

Forensic Accounting

Reliance Industries / Forensic Accounting

<ul>
<li>On 13-Apr-2026, Reliance Retail sold a profitable subsidiary, RPPMSL, generating INR 379 crore profit on INR 9,323 crore revenue, to Jaipur Enclave Pvt. Ltd for just INR 274 crore. </li>
<li>Jaipur Enclave was, until recently, a direct Reliance associate. Its directors are current Reliance Group employees. Its correspondence reportedly uses Sridhar.Kothandaraman@ril.com email addresses.</li>
<li>India's largest conglomerate appears to have engineered a structural distance from a company it arguably still controls. The transaction is small enough to escape SEBI scrutiny thresholds.</li>
</ul>


On 13-Apr-2026, Reliance Retail sold a profitable subsidiary, RPPMSL, generating INR 379 crore profit on INR 9,323 crore revenue, to Jaipur Enclave Pvt. Ltd for just INR 274 crore. 
Jaipur Enclave was, until recently, a direct Reliance associate. Its directors are current Reliance Group employees. Its correspondence reportedly uses Sridhar.Kothandaraman@ril.com email addresses.
India's largest conglomerate appears to have engineered a structural distance from a company it arguably still controls. The transaction is small enough to escape SEBI scrutiny thresholds.


Forensic: When Reliance Sold Its Profitable Subsidiary Below Its Networth to It's Associate!

<ul>
<li>For the first time in its history, Reliance Industries devoted four dedicated slides in its FY26 analyst presentation to Jio Studios and the Dhurandhar franchise.</li>
<li>Peers like Dharma, Excel, and Maddock are selling equity stakes to outside investors; Jio Studios is the only major production house moving in the opposite direction, acquiring rather than diluting.</li>
<li>The four-slide nod from RIL management is far more than a vanity metric: it marks Jio Studios' formal emergence as a strategic pillar of India's most complex consumer empire. 
</li>
</ul>


For the first time in its history, Reliance Industries devoted four dedicated slides in its FY26 analyst presentation to Jio Studios and the Dhurandhar franchise.
Peers like Dharma, Excel, and Maddock are selling equity stakes to outside investors; Jio Studios is the only major production house moving in the opposite direction, acquiring rather than diluting.
The four-slide nod from RIL management is far more than a vanity metric: it marks Jio Studios' formal emergence as a strategic pillar of India's most complex consumer empire. 



While Bollywood Cashes Out, Reliance Doubles Down on Cinema!

Thematic (Sector/Industry)

<ul>
<li>India commissioned only 1.4 GWh, or 2.8%, of its original 50 GWh ACC PLI ambition by October 2025.</li>
<li>Agratas is pursuing licensed NMC cell manufacturing and proprietary LFP development in parallel, while AESC holds a 12% stake and supplies technology.</li>
<li>The differentiator is no longer announced capacity. It is technology absorption, yield ramp-up, domestic value addition and chemistry-level IP ownership.</li>
</ul>


India commissioned only 1.4 GWh, or 2.8%, of its original 50 GWh ACC PLI ambition by October 2025.
Agratas is pursuing licensed NMC cell manufacturing and proprietary LFP development in parallel, while AESC holds a 12% stake and supplies technology.
The differentiator is no longer announced capacity. It is technology absorption, yield ramp-up, domestic value addition and chemistry-level IP ownership.


Why India Need China for Battery Technology?

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)

Reliance Making Meta's First Data Center in India!

Meta and Reliance Industries have signed a deal for a large AI-data center in India, turning Reliance's assets into a revenue stream and...

Nimish Maheshwari

Supreme Court Overturned SEBI’s Order Against Reliance in the 2007 RPL Futures Case!

Supreme Court overturns SEBI's disgorgement order against Reliance, sets new fraud standard for manipulation cases like Jane Street.

Sudarshan Bhandari

Forensic: When Reliance Sold Its Profitable Subsidiary Below Its Networth to It's Associate!

Reliance Retail sells profitable subsidiary to former associate for a fraction of its value, raising questions about corporate governance and...

Nimish Maheshwari

While Bollywood Cashes Out, Reliance Doubles Down on Cinema!

Reliance Industries highlights Jio Studios as a key strategic pillar in its consumer empire, bucking the trend of peers selling equity stakes.

Sudarshan Bhandari

Why India Need China for Battery Technology?

China’s technology controls exposed the difference between announcing a gigafactory and mastering cell chemistry. Tata’s response: licensed NMC...

Nimish Maheshwari

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Reliance Making Meta's First Data Center in India!

​Meta and Reliance Industries have signed a deal for a large AI-data center in India, turning Reliance's assets into a revenue stream and...

Nimish Maheshwari

Supreme Court Overturned SEBI’s Order Against Reliance in the 2007 RPL Futures Case!

​Supreme Court overturns SEBI's disgorgement order against Reliance, sets new fraud standard for manipulation cases like Jane Street.

Sudarshan Bhandari

Forensic: When Reliance Sold Its Profitable Subsidiary Below Its Networth to It's Associate!

​Reliance Retail sells profitable subsidiary to former associate for a fraction of its value, raising questions about corporate governance and...

Nimish Maheshwari

While Bollywood Cashes Out, Reliance Doubles Down on Cinema!

​Reliance Industries highlights Jio Studios as a key strategic pillar in its consumer empire, bucking the trend of peers selling equity stakes.

Sudarshan Bhandari

Why India Need China for Battery Technology?

China’s technology controls exposed the difference between announcing a gigafactory and mastering cell chemistry. Tata’s response: licensed NMC...

Nimish Maheshwari

Meta and Reliance Industries have signed a deal for a large AI-data center in India, turning Reliance's assets into a revenue stream and...

Supreme Court overturns SEBI's disgorgement order against Reliance, sets new fraud standard for manipulation cases like Jane Street.

Reliance Retail sells profitable subsidiary to former associate for a fraction of its value, raising questions about corporate governance and...

Reliance Industries highlights Jio Studios as a key strategic pillar in its consumer empire, bucking the trend of peers selling equity stakes.