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>N. Chandrasekaran will complete his current term but not seek reappointment after 20 February 2027, ending a decade at Tata Sons.</li>
<li>His tenure moved Tata from repair and simplification toward coordinated bets across EVs, aviation, electronics, semiconductors, batteries, defence and digital platforms.</li>
<li>The next chairman inherits stronger operating companies, but must prove continuity and capital discipline across Tata’s cash-hungry, long-gestation new businesses.</li>
</ul>


N. Chandrasekaran will complete his current term but not seek reappointment after 20 February 2027, ending a decade at Tata Sons.
His tenure moved Tata from repair and simplification toward coordinated bets across EVs, aviation, electronics, semiconductors, batteries, defence and digital platforms.
The next chairman inherits stronger operating companies, but must prove continuity and capital discipline across Tata’s cash-hungry, long-gestation new businesses.


The Chandra Decade at Tata: From Balance-Sheet Repair to India’s New Industrial Stack

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

Dr Agarwal's Health Care Ltd / Equity Capital Markets

Dr Agarwal's Health Care Ltd (8140044Z IN)

<ul>
<li>
<a href="https://www.smartkarma.com/entities/dr-agarwal-s-health-care-ltd" target="_blank" data-smartkarma-citation="entities:43984:1" rel="noopener">Dr Agarwal's Health Care Ltd (8140044Z IN)</a> raised around US$350m in its India IPO in Jan 2025. The lockup on its pre-IPO investors is set to expire soon.</li>
<li>Dr Agarwal’s Health Care is a healthcare/hospital chain in India providing eyecare services, including surgeries; consultations, diagnoses, non-surgical treatments; and sells opticals, contact lens, accessories and eyecare related pharmaceutical products.</li>
<li>In this note, we will talk about the lockup dynamics and possible placement.</li>
</ul>



Dr Agarwal's Health Care Ltd (8140044Z IN) raised around US$350m in its India IPO in Jan 2025. The lockup on its pre-IPO investors is set to expire soon.
Dr Agarwal’s Health Care is a healthcare/hospital chain in India providing eyecare services, including surgeries; consultations, diagnoses, non-surgical treatments; and sells opticals, contact lens, accessories and eyecare related pharmaceutical products.
In this note, we will talk about the lockup dynamics and possible placement.


Dr Agarwal’s Health Care IPO Lockup - US$725m Lockup Release; PE Investors May Look to Cash Out

Consumer Analyst / Channel Surveillance Specialist, Trudence Capital Advisors

Pranav Bhavsar

Consumer Analyst / Channel Surveillance Specialist

Trudence Capital Advisors

Trudence Capital Advisors Private Limited is a SEBI-registered Research Analyst, holding SEBI registration number INH000015747. Our firm is dedicated to providing independent and unbiased research on Indian mid to large-cap companies. Trudence Capital is known for its counter-consensus views, with a focus on forensic research and on-ground primary investigations. Our research approach is thorough, involving detailed analysis of accounting practices and governance, alongside extensive channel checks.

Independent & Unbiased Research

Thematic (Sector/Industry)

<ul>
<li>Commercial vehicle industry in India facing challenges due to increasing discounting trend, implementation of new regulations, and economic slowdown.</li>
<li>Possibility of <a href="https://www.smartkarma.com/entities/tata-motors-ltd" target="_blank" data-smartkarma-citation="entities:216:1" rel="noopener">Tata Motors Ltd (TTMT IN)</a> regaining lost market share at the cost of <a href="https://www.smartkarma.com/entities/ashok-leyland-ltd" target="_blank" data-smartkarma-citation="entities:20104:1" rel="noopener">Ashok Leyland (AL IN)</a>, but industry highly competitive.</li>
<li>Finance Ministry warns of El Niño conditions, leading to weaker monsoon in India, dampening auto sales.</li>
</ul>


Commercial vehicle industry in India facing challenges due to increasing discounting trend, implementation of new regulations, and economic slowdown.
Possibility of Tata Motors Ltd (TTMT IN) regaining lost market share at the cost of Ashok Leyland (AL IN), but industry highly competitive.
Finance Ministry warns of El Niño conditions, leading to weaker monsoon in India, dampening auto sales.


India Channel Insight #50 | Commercial Vehicles - Discounts & Market Share

Global Emerging Market Equities, Propitious Research

Wium Malan, CFA

Global Emerging Market Equities

Independent, Fundamental Quantitative Research

Propitious Research

Fully independent, fundamental and quantitative equity research, focused on companies in the Telecommunication, Media, Technology, Internet and Healthcare sectors in the Global Emerging Markets. Idea generation focused on Quality stocks, trading below their intrinsic Value, with sound Corporate Governance.

<ul>
<li>The 200 largest weighted companies in the GEM index reported average EPS growth of +12.8%y/y for 3Q22-to-date, a significant slowdown from what was reported for 2Q22.</li>
<li>60% of companies delivered positive sales surprise, same as in 2Q22, whilst 65% delivered positive EPS surprise, up from 56% in 2Q22.</li>
<li>Historically, there has been a significant difference in relative share price performance between the largest positive versus negative surprise generators, for 3 months after the reporting date.</li>
</ul>


The 200 largest weighted companies in the GEM index reported average EPS growth of +12.8%y/y for 3Q22-to-date, a significant slowdown from what was reported for 2Q22.
60% of companies delivered positive sales surprise, same as in 2Q22, whilst 65% delivered positive EPS surprise, up from 56% in 2Q22.
Historically, there has been a significant difference in relative share price performance between the largest positive versus negative surprise generators, for 3 months after the reporting date.


Global Emerging Markets: Reporting Season Summary, 3Q2022

Asia Pac ECM and Index Rebal, Shenton Research

Ke Yan, CFA, FRM

Asia Pac ECM and Index Rebal

Asia Pac IPO & Placement Research, China Biotech

Shenton Research

Shenton Research is an independent Asia Pacific equity specialist. Our quantitative research covers index rebalancing flows, alongside exchange data analytics accross Asia Pacific. On the equity capital markets side, we focus on Asia Pacific ECM, especially biotech and TMT. Our lead analyst is frequently cited by international media.

Quantitative Analysis

<ul>
<li>We analysed the earning revision of component stocks of MS-India in the past month.</li>
<li>We tabulated stocks with the top impact on index's EPS, stocks' EPS revision, and revenue revision.</li>
<li>We highlighted EPS revision on ICICI Bank, Vedanta, Mahindra &amp; Mahindra, HDFC Bank, Hindustan Petroleum, Dr. Reddy's Laboratories, Jindal Steel &amp; Power.</li>
</ul>


We analysed the earning revision of component stocks of MS-India in the past month.
We tabulated stocks with the top impact on index's EPS, stocks' EPS revision, and revenue revision.
We highlighted EPS revision on ICICI Bank, Vedanta, Mahindra &amp; Mahindra, HDFC Bank, Hindustan Petroleum, Dr. Reddy's Laboratories, Jindal Steel &amp; Power.


MS-India Index Earning Revision (Jul): ICICI Bank, Vedanta, Mahindra & Mahindra, HDFC Bank

India

Tata Motors Passenger Vehicles Limited is an Indian multinational automobile manufacturer that designs, manufactures, and sells a diverse portfolio of passenger cars and utility vehicles, including electric variants. The company is a key player in India's electric vehicle market and also owns the British car manufacturer Jaguar Land Rover. It is headquartered in Mumbai, India, and was founded in 1945 as Tata Motors Limited, with the passenger vehicles business later carved out as a dedicated subsidiary.

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Tata Motors Passenger Vehicles (TMPV IN)

The Chandra Decade at Tata: From Balance-Sheet Repair to India’s New Industrial Stack

N. Chandrasekaran will step down as Tata Sons chairman in 2027 after a decade of steering the company towards coordinated bets in various industries.

Nimish Maheshwari

Dr Agarwal’s Health Care IPO Lockup - US$725m Lockup Release; PE Investors May Look to Cash Out

TPG and Temasek are selling part of their stakes , around 11% of Dr Agarwal Health Care's existing share capital, to raise around US$183m, at a...

Akshat Shah

Global Emerging Markets: Reporting Season Summary, 3Q2022

In this quarterly insight, we analyse recent GEM reporting trends with reference to Sales- and EPS growth, size and percentage of positive...

Wium Malan, CFA

MS-India Index Earning Revision (Jul): ICICI Bank, Vedanta, Mahindra & Mahindra, HDFC Bank

We analyzed MS-India's consensus for Jul 2026 and highlighted changes of EPS in ICICI Bank (ICICIBC IN), Vedanta (VEDL IN), Mahindra & Mahindra (MM...

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

The Chandra Decade at Tata: From Balance-Sheet Repair to India’s New Industrial Stack

​N. Chandrasekaran will step down as Tata Sons chairman in 2027 after a decade of steering the company towards coordinated bets in various industries.

Nimish Maheshwari

Dr Agarwal’s Health Care IPO Lockup - US$725m Lockup Release; PE Investors May Look to Cash Out

TPG and Temasek are selling part of their stakes , around 11% of Dr Agarwal Health Care's existing share capital, to raise around US$183m, at a...

Akshat Shah

India Channel Insight #50 | Commercial Vehicles - Discounts & Market Share

Indian commercial vehicle industry faces challenges from discounting, new regulations and competition. Tata Motors may regain market share, while...

Pranav Bhavsar

Global Emerging Markets: Reporting Season Summary, 3Q2022

In this quarterly insight, we analyse recent GEM reporting trends with reference to Sales- and EPS growth, size and percentage of positive...

Wium Malan, CFA

MS-India Index Earning Revision (Jul): ICICI Bank, Vedanta, Mahindra & Mahindra, HDFC Bank

We analyzed MS-India's consensus for Jul 2026 and highlighted changes of EPS in ICICI Bank (ICICIBC IN), Vedanta (VEDL IN), Mahindra & Mahindra (MM...

Ke Yan, CFA, FRM

N. Chandrasekaran will step down as Tata Sons chairman in 2027 after a decade of steering the company towards coordinated bets in various industries.