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

Thematic (Sector/Industry)

<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?

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, 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

HDB Financial Services Ltd / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/hdb-financial-services-ltd" target="_blank" data-smartkarma-citation="entities:44072:1" rel="noopener">HDB Financial Services</a> is looking to raise around US$1.5bn in its upcoming India IPO.</li>
<li>HDBFS is a leading retail-focused non-banking financial company (NBFC) in India, in terms of total gross loan book size, according to the CRISIL Report.</li>
<li>We have looked at the past performance in our previous note. In this note, we talk about the IPO pricing.</li>
</ul>



HDB Financial Services is looking to raise around US$1.5bn in its upcoming India IPO.
HDBFS is a leading retail-focused non-banking financial company (NBFC) in India, in terms of total gross loan book size, according to the CRISIL Report.
We have looked at the past performance in our previous note. In this note, we talk about the IPO pricing.


HDB Financial Services IPO - Parent Brand and Easing Macros Should See It Through

APAC IPOs & Placements, Aequitas Research

Akshat Shah

APAC IPOs & Placements

Knowledge Realty Trust / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/knowledge-realty-trust" target="_blank" data-smartkarma-citation="entities:44486:1" rel="noopener">Knowledge Realty Trust (258259D IN)</a> is planning to raise about US$558m through its upcoming India IPO. The deal has been downsized from an earlier estimated deal size of about US$712m.</li>
<li>Knowledge Realty Trust (KRT) owns and manages a high-quality office portfolio in India covering 87% of India's office supply and gross absorption between FY16-9M24, as per the CBRE report.</li>
<li>In this note, we talk about the not-so-positive aspects of the deal.</li>
</ul>



Knowledge Realty Trust (258259D IN) is planning to raise about US$558m through its upcoming India IPO. The deal has been downsized from an earlier estimated deal size of about US$712m.
Knowledge Realty Trust (KRT) owns and manages a high-quality office portfolio in India covering 87% of India's office supply and gross absorption between FY16-9M24, as per the CBRE report.
In this note, we talk about the not-so-positive aspects of the deal.


Knowledge Realty Trust Pre-IPO - The Negatives - Not All Assets Have Been Doing Well

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

India Equity Analyst - Fundamental & Thematic, Beat the Street

Sudarshan Bhandari

India Equity Analyst - Fundamental & Thematic

<ul>
<li>Several Indian sectors have demonstrated a robust recovery in operating margins on a Year-over-Year (YoY) basis as of March 2025 (Q4 FY25)</li>
<li>This broad-based improvement is primarily attributed to a confluence of industry-wide factors, predominantly the easing of input costs driven by moderating inflation.</li>
<li>Sectors like Telecom, Metals, Cement, Consumer Durables, Capital Goods, Automobile, Healthcare, EMS are seeing uptick in margins</li>
</ul>


Several Indian sectors have demonstrated a robust recovery in operating margins on a Year-over-Year (YoY) basis as of March 2025 (Q4 FY25)
This broad-based improvement is primarily attributed to a confluence of industry-wide factors, predominantly the easing of input costs driven by moderating inflation.
Sectors like Telecom, Metals, Cement, Consumer Durables, Capital Goods, Automobile, Healthcare, EMS are seeing uptick in margins


Charted Insights : Sectors Seeing Margin Uptick as Inflation Cools Down in India

India

Tata Steel Ltd. is an integrated steel producer which manufactures a variety of steel products. The Company's products include steel ball bearing rings, alloy steel bearing rings, annular forgings, flanges, bearings, welded steel tubes, cold rolled strips and seamless tubes. Tata Steel also manufactures metallurgical machinery.

Price Gauge
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Tata Steel Ltd (TATA IN)

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

HDB Financial Services IPO - Parent Brand and Easing Macros Should See It Through

HDB Financial Services is looking to raise around US$1.5bn in its upcoming India IPO. In this note, we talk about the IPO pricing.

Sumeet Singh

Knowledge Realty Trust Pre-IPO - The Negatives - Not All Assets Have Been Doing Well

Knowledge Realty Trust (KRT) is planning to raise about US$558m through its upcoming India IPO. In this note, we talk about the not-so-positive...

Akshat Shah

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

Charted Insights : Sectors Seeing Margin Uptick as Inflation Cools Down in India

Indian sectors show strong recovery in operating margins in Q4 FY25 due to lower input costs driven by easing inflation.

Sudarshan Bhandari

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

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

HDB Financial Services IPO - Parent Brand and Easing Macros Should See It Through

HDB Financial Services is looking to raise around US$1.5bn in its upcoming India IPO. In this note, we talk about the IPO pricing.

Sumeet Singh

Knowledge Realty Trust Pre-IPO - The Negatives - Not All Assets Have Been Doing Well

Knowledge Realty Trust (KRT) is planning to raise about US$558m through its upcoming India IPO. In this note, we talk about the not-so-positive...

Akshat Shah

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

Charted Insights : Sectors Seeing Margin Uptick as Inflation Cools Down in India

​Indian sectors show strong recovery in operating margins in Q4 FY25 due to lower input costs driven by easing inflation.

Sudarshan Bhandari

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...

Indian sectors show strong recovery in operating margins in Q4 FY25 due to lower input costs driven by easing inflation.