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.

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Thematic (Sector/Industry)

<ul>
<li>China's steel industry faces significant oversupply and weak domestic demand, driving aggressive exports and financial losses amidst rising global trade barriers</li>
<li>India's steel growth remains robust, driven by domestic demand, government support, product diversification, cost control, and ESG focus</li>
<li>Indian steelmakers note easing import pressure, leveraging quality norms and value-added products, expanding capacity, with <a href="https://www.smartkarma.com/entities/jsw-steel-ltd" target="_blank" data-smartkarma-citation="entities:18561:1" rel="noopener">JSW Steel Ltd (JSTL IN)</a> targeting 50 MT by 2030 from 27 MT currently.</li>
</ul>


China's steel industry faces significant oversupply and weak domestic demand, driving aggressive exports and financial losses amidst rising global trade barriers
India's steel growth remains robust, driven by domestic demand, government support, product diversification, cost control, and ESG focus
Indian steelmakers note easing import pressure, leveraging quality norms and value-added products, expanding capacity, with JSW Steel Ltd (JSTL IN) targeting 50 MT by 2030 from 27 MT currently.


Thematic Report : Why China Won’t Derail India’s Steel Growth Plans?

<ul>
<li>India’s steel sector faced severe margin compression and trade imbalances due to a surge in low-cost imports and collapsing exports.</li>
<li>To combat structural stress, the Government of India imposed a 12% safeguard duty and expanded quality norms to shield domestic producers.</li>
<li>While short-term recovery is visible, the long-term outlook depends on global oversupply resolution and India's shift from curbs to core reforms.</li>
</ul>


India’s steel sector faced severe margin compression and trade imbalances due to a surge in low-cost imports and collapsing exports.
To combat structural stress, the Government of India imposed a 12% safeguard duty and expanded quality norms to shield domestic producers.
While short-term recovery is visible, the long-term outlook depends on global oversupply resolution and India's shift from curbs to core reforms.


Thematic Report: India’s Steel Industry ~ GOI Initiatives Enough to Stabilize The Structural Stress?

Global Materials | Industrials | Commodities

Rahul Jain

Commodities

<ul>
<li>Steel prices declined for 5 straight weeks; long products like rebar and wire rod saw the steepest fall amid weak spot market sentiment.</li>
<li>Companies expect higher Q1 FY26 realizations, but spot trends remain weak, highlighting a lag between optimism and transactional reality.</li>
<li>Auto and housing demand is softening; only two-wheelers, EVs, and commercial real estate offer near-term support to steel consumption.</li>
</ul>


Steel prices declined for 5 straight weeks; long products like rebar and wire rod saw the steepest fall amid weak spot market sentiment.
Companies expect higher Q1 FY26 realizations, but spot trends remain weak, highlighting a lag between optimism and transactional reality.
Auto and housing demand is softening; only two-wheelers, EVs, and commercial real estate offer near-term support to steel consumption.


India Steel Monitor – May 2025: Prices Fall, Demand Weak, Outlook Diverges

<ul>
<li>Steelmakers are set for strong Q4 growth, with rising HRC prices and falling raw material costs boosting operating margins by INR 1,200-1,800 per tonne for steelmakers.</li>
<li>Lower input costs, particularly coking coal along with GOI's ADD will significantly improve profitability for steelmakers.</li>
<li>
<a href="https://www.smartkarma.com/entities/jsw-steel-ltd" target="_blank" data-smartkarma-citation="entities:18561:1" rel="noopener">JSW Steel Ltd (JSTL IN)</a> , <a href="https://www.smartkarma.com/entities/jindal-steel-power-ltd" target="_blank" data-smartkarma-citation="entities:6614:1" rel="noopener">Jindal Steel &amp; Power (JSP IN)</a> , <a href="https://www.smartkarma.com/entities/tata-steel-ltd" target="_blank" data-smartkarma-citation="entities:20934:1" rel="noopener">Tata Steel Ltd (TATA IN), </a> <a href="https://www.smartkarma.com/entities/steel-authority-of-india" target="_blank" data-smartkarma-citation="entities:14323:1" rel="noopener">Steel Authority of India (SAIL IN)  expects surge in PAT upto 700%.</a>
</li>
</ul>


Steelmakers are set for strong Q4 growth, with rising HRC prices and falling raw material costs boosting operating margins by INR 1,200-1,800 per tonne for steelmakers.
Lower input costs, particularly coking coal along with GOI's ADD will significantly improve profitability for steelmakers.

JSW Steel Ltd (JSTL IN) , Jindal Steel &amp; Power (JSP IN) , Tata Steel Ltd (TATA IN),  Steel Authority of India (SAIL IN)  expects surge in PAT upto 700%.



Themes of India: Revival of Indian Steel Industry Cycle In Q4 Feasible?

<ul>
<li>India proposes a 12% safeguard duty on key flat steel imports for 200 days, targeting low-cost shipments from FTA partners like Japan and South Korea.</li>
<li>The move supports domestic steelmakers like <a href="https://www.smartkarma.com/entities/jsw-steel-ltd" target="_blank" data-smartkarma-citation="entities:18561:1" rel="noopener">JSW Steel Ltd (JSTL IN)</a> and <a href="https://www.smartkarma.com/entities/tata-steel-ltd" target="_blank" data-smartkarma-citation="entities:20934:1" rel="noopener">Tata Steel Ltd (TATA IN)</a> by restoring pricing power, creating room for further price hikes of INR 1,000–1,500/Ton.</li>
<li>Near-Term profitability looks up for flat-steel players, but risks from WTO pushback, MSME cost pressures, and the policy’s temporary nature warrant cautious optimism.</li>
</ul>


India proposes a 12% safeguard duty on key flat steel imports for 200 days, targeting low-cost shipments from FTA partners like Japan and South Korea.
The move supports domestic steelmakers like JSW Steel Ltd (JSTL IN) and Tata Steel Ltd (TATA IN) by restoring pricing power, creating room for further price hikes of INR 1,000–1,500/Ton.
Near-Term profitability looks up for flat-steel players, but risks from WTO pushback, MSME cost pressures, and the policy’s temporary nature warrant cautious optimism.


India’s 12% Safeguard Duty: A Tailwind for Domestic Steelmakers or a Risk to Downstream Industries?

India

Steel Authority of India Limited is an integrated steel manufacturing company. The Company's products include pig iron, steel ingots, liquid steel, alloy steel, special steel, stainless steel, ferro alloys, ERW pipes, spirally welded pipes, and calcium ammonium nitrate.  The Government of India is currently a majority shareholder in the company.

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Steel Authority of India (SAIL IN)

Thematic Report : Why China Won’t Derail India’s Steel Growth Plans?

China's steel industry struggles with oversupply and weak demand, while India's steel growth remains strong with government support and focus on...

Nimish Maheshwari

Thematic Report: India’s Steel Industry ~ GOI Initiatives Enough to Stabilize The Structural Stress?

India's steel sector struggles with margin compression and trade imbalances, prompting government intervention to protect domestic producers and...

Nimish Maheshwari

India Steel Monitor – May 2025: Prices Fall, Demand Weak, Outlook Diverges

Steel prices have dropped for 5 weeks, with long products like rebar hit hardest; companies optimistic for Q1 FY26 but facing weak spot market...

Rahul Jain

Themes of India: Revival of Indian Steel Industry Cycle In Q4 Feasible?

Steelmakers in India are poised for strong Q4 growth, with rising HRC prices and falling RM costs boosting OPM by INR 1,200-1,800/ tonne, leading...

Nimish Maheshwari

India’s 12% Safeguard Duty: A Tailwind for Domestic Steelmakers or a Risk to Downstream Industries?

India proposes safeguard duty on flat steel imports to support domestic steelmakers like JSW Steel and Tata Steel, allowing for price hikes but...

Nimish Maheshwari

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Thematic Report : Why China Won’t Derail India’s Steel Growth Plans?

​China's steel industry struggles with oversupply and weak demand, while India's steel growth remains strong with government support and focus on...

Nimish Maheshwari

Thematic Report: India’s Steel Industry ~ GOI Initiatives Enough to Stabilize The Structural Stress?

​India's steel sector struggles with margin compression and trade imbalances, prompting government intervention to protect domestic producers and...

Nimish Maheshwari

India Steel Monitor – May 2025: Prices Fall, Demand Weak, Outlook Diverges

​Steel prices have dropped for 5 weeks, with long products like rebar hit hardest; companies optimistic for Q1 FY26 but facing weak spot market...

Rahul Jain

Themes of India: Revival of Indian Steel Industry Cycle In Q4 Feasible?

​Steelmakers in India are poised for strong Q4 growth, with rising HRC prices and falling RM costs boosting OPM by INR 1,200-1,800/ tonne, leading...

Nimish Maheshwari

India’s 12% Safeguard Duty: A Tailwind for Domestic Steelmakers or a Risk to Downstream Industries?

​India proposes safeguard duty on flat steel imports to support domestic steelmakers like JSW Steel and Tata Steel, allowing for price hikes but...

Nimish Maheshwari

China's steel industry struggles with oversupply and weak demand, while India's steel growth remains strong with government support and focus on...

India's steel sector struggles with margin compression and trade imbalances, prompting government intervention to protect domestic producers and...

Steel prices have dropped for 5 weeks, with long products like rebar hit hardest; companies optimistic for Q1 FY26 but facing weak spot market...

Steelmakers in India are poised for strong Q4 growth, with rising HRC prices and falling RM costs boosting OPM by INR 1,200-1,800/ tonne, leading...

India proposes safeguard duty on flat steel imports to support domestic steelmakers like JSW Steel and Tata Steel, allowing for price hikes but...