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>India Semiconductor Mission 2.0 expands policy support to INR 1,27,500 crore across six pillars, building on 12 approved units and over INR 1.64 lakh crore of Phase-I investment.</li>
<li>India is moving beyond subsidy-led fabs toward design IP, equipment, materials, advanced packaging, R&amp;D and talent- critical for reducing imports and creating a durable semiconductor cluster.</li>
<li>Semicon 2.0 is structurally positive, but commercial production, customer qualification, localisation, talent, subsidy disbursement and utilisation will decide which companies convert policy support into durable earnings.</li>
</ul>


India Semiconductor Mission 2.0 expands policy support to INR 1,27,500 crore across six pillars, building on 12 approved units and over INR 1.64 lakh crore of Phase-I investment.
India is moving beyond subsidy-led fabs toward design IP, equipment, materials, advanced packaging, R&amp;D and talent- critical for reducing imports and creating a durable semiconductor cluster.
Semicon 2.0 is structurally positive, but commercial production, customer qualification, localisation, talent, subsidy disbursement and utilisation will decide which companies convert policy support into durable earnings.


India Semiconductor Mission 2.0: Strengthening India’s Position in the Global Chip Value Chain

<ul>
<li>India’s data centre theme has entered a new phase, with Reliance-Meta’s 168 MW Jamnagar deal, Adani’s 5 GW ambition, and Airtel Nxtra’s USD 1 billion fundraise.</li>
<li>India’s operational data centre capacity is now estimated around 1.5-1.7 GW, with AI, cloud, data localisation and hyperscaler demand driving large investment commitments.</li>
<li>A complete value-chain view covering land, power, cooling, backup systems, fibre, AI compute, EPC and colocation- and where listed Indian companies fit.</li>
</ul>


India’s data centre theme has entered a new phase, with Reliance-Meta’s 168 MW Jamnagar deal, Adani’s 5 GW ambition, and Airtel Nxtra’s USD 1 billion fundraise.
India’s operational data centre capacity is now estimated around 1.5-1.7 GW, with AI, cloud, data localisation and hyperscaler demand driving large investment commitments.
A complete value-chain view covering land, power, cooling, backup systems, fibre, AI compute, EPC and colocation- and where listed Indian companies fit.


India’s Data Center Build-Out: AI, Power and the Road from 350 MW to 7 GW

<ul>
<li>From June 1, 2026, government-backed solar projects must source PV cells from ALMM List-II, placing domestic cell procurement at the centre of India’s solar chain.</li>
<li>ALMM-II redirects 40-60 GW of annual project demand to certified Indian cell makers, shifting pricing power and margin upside from modules to cells.</li>
<li>India’s solar story is moving from module assembly to vertical integration. Early cell producers can capture scarce supply, DCR premiums, and a temporary multi-year lead.</li>
</ul>


From June 1, 2026, government-backed solar projects must source PV cells from ALMM List-II, placing domestic cell procurement at the centre of India’s solar chain.
ALMM-II redirects 40-60 GW of annual project demand to certified Indian cell makers, shifting pricing power and margin upside from modules to cells.
India’s solar story is moving from module assembly to vertical integration. Early cell producers can capture scarce supply, DCR premiums, and a temporary multi-year lead.


ALMM-II: India’s Solar Shift From Modules to Cells

Market & Forensics Analyst, Beat the Street

Nimish Maheshwari

Market & Forensics Analyst

<ul>
<li>India's Union Cabinet amended Press Note 3 on 10 March 2026, allowing up to 10% non-controlling beneficial ownership from land-bordering countries under the automatic route for seven critical manufacturing sectors.</li>
<li>Each of the seven sectors features Chinese global market share of 80-97%. India's installed polysilicon capacity is just 3.3 GW against 120 GW of module capacity. </li>
<li>India cut Chinese work visas by 99% after 2020, banned the capital, then needed Chinese engineers to commission wafer lines. Now, need to see whether India gets IP or not?</li>
</ul>


India's Union Cabinet amended Press Note 3 on 10 March 2026, allowing up to 10% non-controlling beneficial ownership from land-bordering countries under the automatic route for seven critical manufacturing sectors.
Each of the seven sectors features Chinese global market share of 80-97%. India's installed polysilicon capacity is just 3.3 GW against 120 GW of module capacity. 
India cut Chinese work visas by 99% after 2020, banned the capital, then needed Chinese engineers to commission wafer lines. Now, need to see whether India gets IP or not?


India's Surgical FDI Move: Getting the Factory, Not Just the Technology

<ul>
<li>An individual alleged the Adani Group engaged in bid rigging and abused market dominance to win a massive 2019 SECI solar tender. </li>
<li>The CCI completely dismissed the case since Adani lacks market dominance, procuring agencies can set rules, and there was zero cartelisation evidence.</li>
<li>This clear regulatory dismissal immediately triggered a surge in their stock prices, removing institutional anxiety and allowing focus on future execution.
</li>
</ul>


An individual alleged the Adani Group engaged in bid rigging and abused market dominance to win a massive 2019 SECI solar tender. 
The CCI completely dismissed the case since Adani lacks market dominance, procuring agencies can set rules, and there was zero cartelisation evidence.
This clear regulatory dismissal immediately triggered a surge in their stock prices, removing institutional anxiety and allowing focus on future execution.



The Adani Group Clearance: Deconstructing the CCI Verdict and What It Means for the Conglomerate

India

Tata Power is an Indian electric utility company that generates, transmits, and distributes electricity. It offers a range of energy solutions including solar, wind, hydro, and thermal power, along with EV charging infrastructure and home automation. The company is headquartered in Mumbai, India, and was founded in 1919.

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Tata Power (TPWR IN)

India Semiconductor Mission 2.0: Strengthening India’s Position in the Global Chip Value Chain

India Semiconductor Mission 2.0 aims to reduce imports and create a sustainable semiconductor cluster with INR 1,27,500 crore in policy support...

Sudarshan Bhandari

India’s Data Center Build-Out: AI, Power and the Road from 350 MW to 7 GW

India's data centre industry is booming with major deals and investments, driven by demand for AI, cloud, data localisation, and hyperscalers.

Sudarshan Bhandari

ALMM-II: India’s Solar Shift From Modules to Cells

Starting June 1, 2026, Indian government mandates solar projects to use PV cells from ALMM List-II, reshaping the solar industry towards domestic...

Sudarshan Bhandari

India's Surgical FDI Move: Getting the Factory, Not Just the Technology

India's new policy allows up to 10% ownership from land-bordering countries in critical sectors dominated by China, raising questions about IP...

Nimish Maheshwari

The Adani Group Clearance: Deconstructing the CCI Verdict and What It Means for the Conglomerate

Allegations of bid rigging against Adani Group dismissed by CCI, leading to surge in stock prices and renewed focus on future execution.

Sudarshan Bhandari

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

India Semiconductor Mission 2.0: Strengthening India’s Position in the Global Chip Value Chain

​India Semiconductor Mission 2.0 aims to reduce imports and create a sustainable semiconductor cluster with INR 1,27,500 crore in policy support...

Sudarshan Bhandari

India’s Data Center Build-Out: AI, Power and the Road from 350 MW to 7 GW

​India's data centre industry is booming with major deals and investments, driven by demand for AI, cloud, data localisation, and hyperscalers.

Sudarshan Bhandari

ALMM-II: India’s Solar Shift From Modules to Cells

​Starting June 1, 2026, Indian government mandates solar projects to use PV cells from ALMM List-II, reshaping the solar industry towards domestic...

Sudarshan Bhandari

India's Surgical FDI Move: Getting the Factory, Not Just the Technology

​India's new policy allows up to 10% ownership from land-bordering countries in critical sectors dominated by China, raising questions about IP...

Nimish Maheshwari

The Adani Group Clearance: Deconstructing the CCI Verdict and What It Means for the Conglomerate

​Allegations of bid rigging against Adani Group dismissed by CCI, leading to surge in stock prices and renewed focus on future execution.

Sudarshan Bhandari

India Semiconductor Mission 2.0 aims to reduce imports and create a sustainable semiconductor cluster with INR 1,27,500 crore in policy support...

India's data centre industry is booming with major deals and investments, driven by demand for AI, cloud, data localisation, and hyperscalers.

Starting June 1, 2026, Indian government mandates solar projects to use PV cells from ALMM List-II, reshaping the solar industry towards domestic...

India's new policy allows up to 10% ownership from land-bordering countries in critical sectors dominated by China, raising questions about IP...

Allegations of bid rigging against Adani Group dismissed by CCI, leading to surge in stock prices and renewed focus on future execution.