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

Event-Driven

<ul>
<li>RHI Magnesita N.V. has proposed a cash-and-shares takeover bid for UK-based Vesuvius plc, valuing the company at approximately GBP 1.4 billion.</li>
<li>The combination could bring together RHI Magnesita’s refractory leadership with Vesuvius’ molten metal flow control technologies, creating a broader industrial solutions platform.</li>
<li>Indian subsidiaries could gain access to wider technology, product capabilities and customer solutions, while investors need to track integration risks and competitive overlap.</li>
</ul>


RHI Magnesita N.V. has proposed a cash-and-shares takeover bid for UK-based Vesuvius plc, valuing the company at approximately GBP 1.4 billion.
The combination could bring together RHI Magnesita’s refractory leadership with Vesuvius’ molten metal flow control technologies, creating a broader industrial solutions platform.
Indian subsidiaries could gain access to wider technology, product capabilities and customer solutions, while investors need to track integration risks and competitive overlap.


RHI Magnesita’s Vesuvius Acquisition: A Global Refractory Consolidation, Impact On Indian Players

External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

External broker reports(aggregated public sources)

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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.

Thematic (Sector/Industry)

<ul><li>State Bank of India: SBIN’s Q2FY24 outcomes missed estimates because of lower-than-expected non-interest income and higher opex stemming from wage arrears, partly offset by a provision reversal</li><li>Loan growth moderated (+12.4% YoY) as domestic margins stabilised at 3.45% (-2bps sequentially)</li><li>Gross slippages clocked in at 0.5% annualised, partly offset by healthy recoveries/w-offs, resulting in GNPAs trending further lower (2.6%)</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.

State Bank of India: SBIN’s Q2FY24 outcomes missed estimates because of lower-than-expected non-interest income and higher opex stemming from wage arrears, partly offset by a provision reversalLoan growth moderated (+12.4% YoY) as domestic margins stabilised at 3.45% (-2bps sequentially)Gross slippages clocked in at 0.5% annualised, partly offset by healthy recoveries/w-offs, resulting in GNPAs trending further lower (2.6%)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.

HSIE Results Daily: State Bank of India, Titan, Gujarat Gas, Relaxo Footwears, Orient Electric

External broker reports(aggregated public sources), Axis Direct

Axis Direct

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.

Equity Bottom-Up

<ul><li>Positive end-user Industry outlook: With the growth in India’s steel, non-ferrous and cement sectors, RHIM is well-positioned to cater to the demand, being a market leader in refractories (30% market share in India).</li><li>India is the highest growth market for refractories globally, with a 6-8% CAGR forecast. India's refractory market is projected to reach $4.5 Bn by 2030, faster than earlier estimates, driven by material innovations and organic growth.</li><li>The medium-term demand fundamentals remain intact, with domestic steel capacity poised to expand (300 MT target by 2030) and infrastructure-led cement demand expected to recover in FY26 (6-8% YoY growth expected in FY26).</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.

Positive end-user Industry outlook: With the growth in India’s steel, non-ferrous and cement sectors, RHIM is well-positioned to cater to the demand, being a market leader in refractories (30% market share in India).India is the highest growth market for refractories globally, with a 6-8% CAGR forecast. India's refractory market is projected to reach $4.5 Bn by 2030, faster than earlier estimates, driven by material innovations and organic growth.The medium-term demand fundamentals remain intact, with domestic steel capacity poised to expand (300 MT target by 2030) and infrastructure-led cement demand expected to recover in FY26 (6-8% YoY growth expected in FY26).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.

Axis Punch: RHI Magnesita India Ltd - 16th June, 2025

Global Materials | Industrials | Commodities

Rahul Jain

<ul>
<li>Margin pressures are likely to ease from Q2FY26 as raw material costs normalize and recent price hikes take effect.</li>
<li>The company is executing a Rs150 Cr capex plan focused on automating DOCL plants and localizing high-margin products.</li>
<li>Integration challenges, cost inflation, and inventory issues that weighed on FY24–25 performance appear largely behind now.</li>
</ul>


Margin pressures are likely to ease from Q2FY26 as raw material costs normalize and recent price hikes take effect.
The company is executing a Rs150 Cr capex plan focused on automating DOCL plants and localizing high-margin products.
Integration challenges, cost inflation, and inventory issues that weighed on FY24–25 performance appear largely behind now.


RHIM (NSE: RHIM) – Margins Easing, Capex Driving Growth, Integration Overhang Fading

India

RHI Magnesita India is a leading manufacturer and supplier of high-grade refractory products, systems, and solutions for industrial high-temperature processes. These products are essential for industries such as steel, cement, non-ferrous metals, and glass. The company's headquarters are located in Gurugram, India, and it was incorporated on November 26, 2010.

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RHI Magnesita India (RHIM IN)

RHI Magnesita’s Vesuvius Acquisition: A Global Refractory Consolidation, Impact On Indian Players

A £1.36 billion UK takeover proposal puts four Indian listed companies in play: RHI Magnesita India, Vesuvius India, Foseco India and Foseco...

Nimish Maheshwari

HSIE Results Daily: State Bank of India, Titan, Gujarat Gas, Relaxo Footwears, Orient Electric

SBIN’s Q2FY24 outcomes missed estimates because of lower-than-expected non-interest income and higher opex stemming from wage arrears, partly...

HDFC Securities

Axis Punch: RHI Magnesita India Ltd - 16th June, 2025

With the growth in India’s steel, non-ferrous and cement sectors, RHIM is well-positioned to cater to the demand, being a market leader in...

Axis Direct

RHIM (NSE: RHIM) – Margins Easing, Capex Driving Growth, Integration Overhang Fading

Margin pressures easing in Q2FY26 as raw material costs normalize and price hikes take effect. Integration challenges and cost inflation issues...

Rahul Jain

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

RHI Magnesita’s Vesuvius Acquisition: A Global Refractory Consolidation, Impact On Indian Players

A £1.36 billion UK takeover proposal puts four Indian listed companies in play: RHI Magnesita India, Vesuvius India, Foseco India and Foseco...

Nimish Maheshwari

HSIE Results Daily: State Bank of India, Titan, Gujarat Gas, Relaxo Footwears, Orient Electric

SBIN’s Q2FY24 outcomes missed estimates because of lower-than-expected non-interest income and higher opex stemming from wage arrears, partly...

HDFC Securities

Axis Punch: RHI Magnesita India Ltd - 16th June, 2025

With the growth in India’s steel, non-ferrous and cement sectors, RHIM is well-positioned to cater to the demand, being a market leader in...

Axis Direct

RHIM (NSE: RHIM) – Margins Easing, Capex Driving Growth, Integration Overhang Fading

​Margin pressures easing in Q2FY26 as raw material costs normalize and price hikes take effect. Integration challenges and cost inflation issues...

Rahul Jain

Margin pressures easing in Q2FY26 as raw material costs normalize and price hikes take effect. Integration challenges and cost inflation issues...