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>Promoter buying reflects insider confidence in the company's future, often driven by access to undisclosed positive developments and growth opportunities.</li>
<li>Increased promoter stake may indicate that the market has undervalued the company, potentially presenting an opportunity for investors to buy at a discount.</li>
<li>Consider the broader market environment, company fundamentals, and industry trends alongside promoter buying activity to form a comprehensive investment thesis.</li>
</ul>


Promoter buying reflects insider confidence in the company's future, often driven by access to undisclosed positive developments and growth opportunities.
Increased promoter stake may indicate that the market has undervalued the company, potentially presenting an opportunity for investors to buy at a discount.
Consider the broader market environment, company fundamentals, and industry trends alongside promoter buying activity to form a comprehensive investment thesis.


Contrarian Moves: Promoter Buying During Indian Equity Downturns

Event-Driven

<ul>
<li>The Union Cabinet on 10 March 2026 approved JJM 2.0 with a total outlay of Rs 8.69 lakh crore extending the mission to December 2028.</li>
<li>The shift from capex-heavy pipe-laying to operations and maintenance fundamentally changes the sector's revenue model, favouring O&amp;M-linked EPC players and water treatment technology companies over pure commodity pipe suppliers.</li>
<li>Companies with deep O&amp;M annuity pipelines: VA Tech Wabag, EMS Limited, and Welspun Enterprises are structurally better positioned for the 2.0 era.</li>
</ul>


The Union Cabinet on 10 March 2026 approved JJM 2.0 with a total outlay of Rs 8.69 lakh crore extending the mission to December 2028.
The shift from capex-heavy pipe-laying to operations and maintenance fundamentally changes the sector's revenue model, favouring O&amp;M-linked EPC players and water treatment technology companies over pure commodity pipe suppliers.
Companies with deep O&amp;M annuity pipelines: VA Tech Wabag, EMS Limited, and Welspun Enterprises are structurally better positioned for the 2.0 era.


Jal Jeevan Mission 2.0: New Life to Water Related Companies in India

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

Clean Max Enviro Energy Solutions / Equity Capital Markets

Clean Max Enviro Energy Solutions (CLEANMAX IN)

<ul>
<li>
<a href="https://www.smartkarma.com/entities/cleanmax-enviro-energy-solutions-ltd" target="_blank" data-smartkarma-citation="entities:45702:1" rel="noopener">CleanMax Enviro Energy Solutions Ltd (8382406Z IN)</a> (CEESL) is looking to raise US$586m in its upcoming India IPO.</li>
<li>CEESL is a provider of commercial and industrial renewable energy, specializing in delivering decarbonization solutions, including supplying renewable power and offering energy services and carbon credit solutions to customers.</li>
<li>In this note, we talk about the positive aspects of the deal.</li>
</ul>



CleanMax Enviro Energy Solutions Ltd (8382406Z IN) (CEESL) is looking to raise US$586m in its upcoming India IPO.
CEESL is a provider of commercial and industrial renewable energy, specializing in delivering decarbonization solutions, including supplying renewable power and offering energy services and carbon credit solutions to customers.
In this note, we talk about the positive aspects of the deal.


CleanMax Enviro Energy Solutions Pre-IPO- The Positives- Scalable Growth with Strong Market Position

Chief Executive Officer, Emmer Capital Partners Limited

Manishi Raychaudhuri

Chief Executive Officer

Emmer Capital Partners Limited

Emmer Capital Partners is an Asia Pacific focused financial advisory firm engaging in strategic financial asset allocation advice, bespoke thematic research and advising early-stage companies and connecting them to investors. Emmer Capital provides macro-economic and multi-asset investment strategy inputs to institutions, family offices, private wealth managers, private equity, and corporate boards directly and through independent research platforms. Emmer Capital also advises a wide range of startup companies on fund raising and business strategy. Emmer Capital's active engagement with the print and electronic media reaches a broad spectrum of investors across the globe.

Equity Bottom-Up

Housing and Urban Development Corporation / Equity Bottom-Up

Housing and Urban Development Corporation (HUDCO IN)

Housing and Urban Development Corporation

<ul>
<li>The headline Indian mid cap indices are still expensive, despite a sharp decline since late September. However, when adjusted for growth, many fundamentally attractive mid-caps are cheap.</li>
<li>We screen mid-caps with PEG&lt;1.3x, consensus Buy recommendations and increasing consensus EPS estimates over the past six months. We choose well-covered stocks so that the consensus estimates are meaningful.</li>
<li>Our basket of 20 contains six financial stocks, five materials, four industrials and three consumer discretionaries. Many pertain to the themes of renewable energy, data centers, healthcare, tourism and infrastructure.</li>
</ul>


The headline Indian mid cap indices are still expensive, despite a sharp decline since late September. However, when adjusted for growth, many fundamentally attractive mid-caps are cheap.
We screen mid-caps with PEG&lt;1.3x, consensus Buy recommendations and increasing consensus EPS estimates over the past six months. We choose well-covered stocks so that the consensus estimates are meaningful.
Our basket of 20 contains six financial stocks, five materials, four industrials and three consumer discretionaries. Many pertain to the themes of renewable energy, data centers, healthcare, tourism and infrastructure.


Asian Equities: Twenty Attractive and Cheap Indian Mid-Caps

India Equity Analyst - Fundamental & Thematic, Beat the Street

Sudarshan Bhandari

India Equity Analyst - Fundamental & Thematic

<ul>
<li>
<a href="https://www.smartkarma.com/entities/welspun-corp-ltd" target="_blank" data-smartkarma-citation="entities:7824:1" rel="noopener">Welspun Corp (WLCO IN)</a>’s Q3 FY25 results show a sequential 9% revenue increase, significant net profit surge to Rs. 675 crore, and a robust order book exceeding Rs. 15,000 crore.</li>
<li>Improved profitability and strategic growth initiatives bolster Welspun’s market position, enabling the company to capitalize on expanding demand in infrastructure and renewable sectors.</li>
<li>Total Order book increased to 8.66L Ton in India and US, DI Pipe order book is at 3.5L Tons, where Saudi order book is for more than 2.5 yrs.</li>
</ul>



Welspun Corp (WLCO IN)’s Q3 FY25 results show a sequential 9% revenue increase, significant net profit surge to Rs. 675 crore, and a robust order book exceeding Rs. 15,000 crore.
Improved profitability and strategic growth initiatives bolster Welspun’s market position, enabling the company to capitalize on expanding demand in infrastructure and renewable sectors.
Total Order book increased to 8.66L Ton in India and US, DI Pipe order book is at 3.5L Tons, where Saudi order book is for more than 2.5 yrs.


Welspun Corp Q3 Update: Capitalizing on Infrastructure and Renewable Demand

India

Welspun Corporation Ltd. is a one-stop service provider offering pipe solutions with a capability to manufacture line pipes, along with specialized coating, double jointing and bending. Welspun supplies pipe to most of the Fortune 100 Oil & Gas companies.

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Welspun Corp (WLCO IN)

Contrarian Moves: Promoter Buying During Indian Equity Downturns

There are 100 reasons to sell in the market, but only one reason to buy!! Taking a deep understanding of Promoter Buying in the Indian Landscape in...

Nimish Maheshwari

CleanMax Enviro Energy Solutions Pre-IPO- The Positives- Scalable Growth with Strong Market Position

CleanMax Enviro Energy Solutions Limited (CEESL) is looking to raise US$586m in its upcoming India IPO. In this note, we will talk about the...

Akshat Shah

Asian Equities: Twenty Attractive and Cheap Indian Mid-Caps

Indian midcap indices are pricey despite recent drop, but many fundamentally strong midcaps offer value when growth is factored in. Our screen on...

Manishi Raychaudhuri

Welspun Corp Q3 Update: Capitalizing on Infrastructure and Renewable Demand

Welspun Corp's Q3 FY25 results reveal strong revenue growth, soaring net profit, and a robust order book, positioning the company for long-term...

Sudarshan Bhandari

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Contrarian Moves: Promoter Buying During Indian Equity Downturns

There are 100 reasons to sell in the market, but only one reason to buy!! Taking a deep understanding of Promoter Buying in the Indian Landscape in...

Nimish Maheshwari

Jal Jeevan Mission 2.0: New Life to Water Related Companies in India

​The Union Cabinet approved JJM 2.0 with Rs 8.69 lakh crore outlay, shifting focus to O&M and favoring companies like VA Tech Wabag and Welspun...

Nimish Maheshwari

CleanMax Enviro Energy Solutions Pre-IPO- The Positives- Scalable Growth with Strong Market Position

CleanMax Enviro Energy Solutions Limited (CEESL) is looking to raise US$586m in its upcoming India IPO. In this note, we will talk about the...

Akshat Shah

Asian Equities: Twenty Attractive and Cheap Indian Mid-Caps

​Indian midcap indices are pricey despite recent drop, but many fundamentally strong midcaps offer value when growth is factored in. Our screen on...

Manishi Raychaudhuri

Welspun Corp Q3 Update: Capitalizing on Infrastructure and Renewable Demand

​Welspun Corp's Q3 FY25 results reveal strong revenue growth, soaring net profit, and a robust order book, positioning the company for long-term...

Sudarshan Bhandari

The Union Cabinet approved JJM 2.0 with Rs 8.69 lakh crore outlay, shifting focus to O&M and favoring companies like VA Tech Wabag and Welspun...

Indian midcap indices are pricey despite recent drop, but many fundamentally strong midcaps offer value when growth is factored in. Our screen on...

Welspun Corp's Q3 FY25 results reveal strong revenue growth, soaring net profit, and a robust order book, positioning the company for long-term...