India Equity Analyst - Fundamental & Thematic, Beat the Street

Sudarshan Bhandari

India Equity Analyst - Fundamental & Thematic

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>The microfinance sector sees 7.6% YoY growth, but quarterly loan book shrinks by 4.3%. Rising delinquencies, particularly in Odisha, Uttar Pradesh, and Tamil Nadu, raise concerns.</li>
<li>
<a href="https://www.smartkarma.com/entities/nippon-life-india-asset-management-limited" target="_blank" data-smartkarma-citation="entities:25984:1" rel="noopener">Nippon Life India Asset Management (NAM IN)</a>  launches the Nippon India Large Cap Fund GIFT in GIFT City, offering global investors access to India's equity market.</li>
<li>FHRAI and NRAI are challenging <a href="https://www.smartkarma.com/entities/swiggy-limited" target="_blank" data-smartkarma-citation="entities:35630:1" rel="noopener">Swiggy (SWIGGY IN)</a>  and <a href="https://www.smartkarma.com/entities/zomato-ltd" target="_blank" data-smartkarma-citation="entities:28820:1" rel="noopener">Zomato (ZOMATO IN)</a>  private labels, Snacc and Bistro, alleging market manipulation and anti-competitive practices. </li>
</ul>


The microfinance sector sees 7.6% YoY growth, but quarterly loan book shrinks by 4.3%. Rising delinquencies, particularly in Odisha, Uttar Pradesh, and Tamil Nadu, raise concerns.

Nippon Life India Asset Management (NAM IN)  launches the Nippon India Large Cap Fund GIFT in GIFT City, offering global investors access to India's equity market.
FHRAI and NRAI are challenging Swiggy (SWIGGY IN)  and Zomato (ZOMATO IN)  private labels, Snacc and Bistro, alleging market manipulation and anti-competitive practices. 


#86 India Insight: Microfinance Grows 7.6%, Nippon AMC Fund Launch, FHRAI Challenges Swiggy, Zomato

External broker reports(aggregated public sources), Axis Direct

Axis Direct

External broker reports(aggregated public sources)

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>Banks (incl. SFBs) under our coverage reported a largely in-line performance delivering a credit growth at ~14% YoY, with a continuous and conscious slowdown visible in the unsecured segments, particularly credit cards, personal loans, and microfinance as asset quality concerns continued to linger.</li><li>Credit growth was primarily driven by Retail and SME segments, while corporate growth especially in the large corporates remained subdued owing to competitive pricing.</li><li>Management commentary has been around credit growth gradually converging with deposit growth, in an attempt to maintain balanced LDR, especially in private (Pvt.) banks.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Banks (incl. SFBs) under our coverage reported a largely in-line performance delivering a credit growth at ~14% YoY, with a continuous and conscious slowdown visible in the unsecured segments, particularly credit cards, personal loans, and microfinance as asset quality concerns continued to linger.Credit growth was primarily driven by Retail and SME segments, while corporate growth especially in the large corporates remained subdued owing to competitive pricing.Management commentary has been around credit growth gradually converging with deposit growth, in an attempt to maintain balanced LDR, especially in private (Pvt.) banks.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Top Conviction Ideas – “Banks, Financial Services and Insurance (BFSI)”

Equity Bottom-Up

Nippon Life India Asset Management / Equity Bottom-Up

<ul><li>Growth to remain healthy; Eyeing sticky customer base: The net flows momentum in sectoral, thematic, multi-cap and multi-asset allocation funds has continued to remain buoyant.</li><li>NAM has been averse to launching multiple new NFOs as the management believes that it is an asset-gathering strategy rather and the inflows generally do not tend to be sticky and sustainable.</li><li>Instead, the management will look to scale existing schemes to ensure consistent flows into existing schemes. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Growth to remain healthy; Eyeing sticky customer base: The net flows momentum in sectoral, thematic, multi-cap and multi-asset allocation funds has continued to remain buoyant.NAM has been averse to launching multiple new NFOs as the management believes that it is an asset-gathering strategy rather and the inflows generally do not tend to be sticky and sustainable.Instead, the management will look to scale existing schemes to ensure consistent flows into existing schemes. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Nippon Life India AMC Ltd. - Market Share Gain Continues; Focus on Profitable Growth!

<ul><li>The systemic credit growth (as of 20th Sep’24) continued to remain healthy at 13% YoY.</li><li>This growth continues to be led by Retail and SMEs, while corporate credit continues to remain sluggish.</li><li>The deceleration in credit growth is most likely primarily amongst the private sector banks as they aim to reduce their LDR and maintain them at balance levels. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

The systemic credit growth (as of 20th Sep’24) continued to remain healthy at 13% YoY.This growth continues to be led by Retail and SMEs, while corporate credit continues to remain sluggish.The deceleration in credit growth is most likely primarily amongst the private sector banks as they aim to reduce their LDR and maintain them at balance levels. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Q2FY25 Earnings Preview - Banks, Financial Services and Insurance

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

Event-Driven

<ul>
<li>The <a href="https://www.smartkarma.com/entities/nifty-index" target="_blank" data-smartkarma-citation="entities:23617:1" rel="noopener">NIFTY Index</a>, <a href="https://www.smartkarma.com/entities/nse-nifty-next-50-index" target="_blank" data-smartkarma-citation="entities:36053:1" rel="noopener">Nifty Next 50 Index</a>, <a href="https://www.smartkarma.com/entities/nse-nifty-bank-index" target="_blank" data-smartkarma-citation="entities:26811:1" rel="noopener">NSE Nifty Bank Index</a>, CNXIT Index, Nifty Midcap 150 Index, Nifty100 Low Volatility30 Index and the <a href="https://www.smartkarma.com/entities/cpse-etf" target="_blank" data-smartkarma-citation="entities:28191:1" rel="noopener">CPSE ETF</a> rebalance at the close tomorrow.</li>
<li>The round-trip trade across the indices is US$3.3bn and there are 13 stocks with over 1 day of ADV to trade from passive trackers.</li>
<li>Stocks with the largest inflows are <a href="https://www.smartkarma.com/entities/trent-ltd" target="_blank" data-smartkarma-citation="entities:8410:1" rel="noopener">Trent</a>, <a href="https://www.smartkarma.com/entities/bharat-electronics-ltd" target="_blank" data-smartkarma-citation="entities:6636:1" rel="noopener">Bharat Electronics</a>, <a href="https://www.smartkarma.com/entities/canara-bank" target="_blank" data-smartkarma-citation="entities:543:1" rel="noopener">Canara Bank</a>, <a href="https://www.smartkarma.com/entities/bharat-heavy-electricals" target="_blank" data-smartkarma-citation="entities:460:1" rel="noopener">Bharat Heavy Electricals</a>, <a href="https://www.smartkarma.com/entities/oil-natural-gas-corp-ltd" target="_blank" data-smartkarma-citation="entities:3456:1" rel="noopener">Oil &amp; Natural Gas Corp</a>, <a href="https://www.smartkarma.com/entities/coal-india-ltd" target="_blank" data-smartkarma-citation="entities:9117:1" rel="noopener">Coal India</a>, <a href="https://www.smartkarma.com/entities/hindustan-aeronautics-ltd" target="_blank" data-smartkarma-citation="entities:26747:1" rel="noopener">Hindustan Aeronautics</a> and <a href="https://www.smartkarma.com/entities/interglobe-aviation-ltd" target="_blank" data-smartkarma-citation="entities:24877:1" rel="noopener">InterGlobe Aviation</a>.</li>
</ul>


The NIFTY Index, Nifty Next 50 Index, NSE Nifty Bank Index, CNXIT Index, Nifty Midcap 150 Index, Nifty100 Low Volatility30 Index and the CPSE ETF rebalance at the close tomorrow.
The round-trip trade across the indices is US$3.3bn and there are 13 stocks with over 1 day of ADV to trade from passive trackers.
Stocks with the largest inflows are Trent, Bharat Electronics, Canara Bank, Bharat Heavy Electricals, Oil &amp; Natural Gas Corp, Coal India, Hindustan Aeronautics and InterGlobe Aviation.


NIFTY Indices: Flows (Post Capping) At the Close Tomorrow; Round-Trip US$3.3bn

India

Nippon Life India Asset Management Limited operates as an investment management firm. The Company offers portfolio management, financial planning, mutual fund investment, and advisory services to individuals, institutions, trusts, and private funds. Nippon Life India Asset Management serves customers in India.

Nippon Life India Asset Management (NAM IN)

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Nippon Life India Asset Management (NAM IN)

#86 India Insight: Microfinance Grows 7.6%, Nippon AMC Fund Launch, FHRAI Challenges Swiggy, Zomato

Microfinance sector shows growth but faces delinquency concerns; Nippon Life India AMC launches fund in GIFT City; FHRAI and NRAI challenge Swiggy...

Sudarshan Bhandari

Top Conviction Ideas – “Banks, Financial Services and Insurance (BFSI)”

Banks (incl. SFBs) under our coverage reported a largely in-line performance delivering a credit growth at ~14% YoY, with a continuous and...

Axis Direct

Q2FY25 Earnings Preview - Banks, Financial Services and Insurance

Mirroring the systemic credit growth trends, we expect banks under our coverage (incl. SFBs) to register credit growth of ~14/4% YoY/QoQ.

Axis Direct

NIFTY Indices: Flows (Post Capping) At the Close Tomorrow; Round-Trip US$3.3bn

The next rebalance of the Nifty family of indices takes place at the close on 27 Sep. The round-trip trade is US$3.3bn and there are 13 stocks with...

Brian Freitas

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52-week Range

Market Cap (USDm)

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#86 India Insight: Microfinance Grows 7.6%, Nippon AMC Fund Launch, FHRAI Challenges Swiggy, Zomato

​Microfinance sector shows growth but faces delinquency concerns; Nippon Life India AMC launches fund in GIFT City; FHRAI and NRAI challenge Swiggy...

Sudarshan Bhandari

Top Conviction Ideas – “Banks, Financial Services and Insurance (BFSI)”

Banks (incl. SFBs) under our coverage reported a largely in-line performance delivering a credit growth at ~14% YoY, with a continuous and...

Axis Direct

Nippon Life India AMC Ltd. - Market Share Gain Continues; Focus on Profitable Growth!

Growth to remain healthy; Eyeing sticky customer base: The net flows momentum in sectoral, thematic, multi-cap and multi-asset allocation funds has...

Axis Direct

Q2FY25 Earnings Preview - Banks, Financial Services and Insurance

Mirroring the systemic credit growth trends, we expect banks under our coverage (incl. SFBs) to register credit growth of ~14/4% YoY/QoQ.

Axis Direct

NIFTY Indices: Flows (Post Capping) At the Close Tomorrow; Round-Trip US$3.3bn

The next rebalance of the Nifty family of indices takes place at the close on 27 Sep. The round-trip trade is US$3.3bn and there are 13 stocks with...

Brian Freitas

Microfinance sector shows growth but faces delinquency concerns; Nippon Life India AMC launches fund in GIFT City; FHRAI and NRAI challenge Swiggy...