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>
<a href="https://www.smartkarma.com/entities/kaynes-technology-india-ltd" target="_blank" data-smartkarma-citation="entities:36436:1" rel="noopener">Kaynes Technology India (KAYNES IN)</a> Semicon to deliver India's first packaged semiconductor chips by July 2025, supported by a multi-year deal.</li>
<li>
<a href="https://www.smartkarma.com/entities/bank-of-america-corp" target="_blank" data-smartkarma-citation="entities:278:1" rel="noopener">Bank Of America (BAC US)</a> expects RBI to cut the repo rate to 6% in April, with a target of 5.5% by year-end.</li>
<li>
<a href="https://www.smartkarma.com/entities/vadilal-industries-ltd" target="_blank" data-smartkarma-citation="entities:8782:1" rel="noopener">Vadilal Industries (VDI IN)</a> settles promoter dispute, plans leadership restructuring and board reconstitution to improve governance and growth.</li>
</ul>



Kaynes Technology India (KAYNES IN) Semicon to deliver India's first packaged semiconductor chips by July 2025, supported by a multi-year deal.

Bank Of America (BAC US) expects RBI to cut the repo rate to 6% in April, with a target of 5.5% by year-end.

Vadilal Industries (VDI IN) settles promoter dispute, plans leadership restructuring and board reconstitution to improve governance and growth.


#130 India Insight: Textile Aims $100B Exports, Wind Energy Hits 48.5 GW, Data Centers Reach $10B

<ul>
<li>By June 2025, shares worth INR 4.02 trillion across 73 IPOs will become tradeable post lock-in expiry, including major names like Hyundai, Swiggy, and NTPC Green.</li>
<li>This massive unlock could flood markets with fresh float, increasing supply dramatically and potentially causing short-term price corrections, especially in already weak or overvalued stocks.</li>
<li>Investors should prepare for near-term volatility but also watch for dips in strong businesses as potential accumulation opportunities once initial selling pressure subsides.</li>
</ul>


By June 2025, shares worth INR 4.02 trillion across 73 IPOs will become tradeable post lock-in expiry, including major names like Hyundai, Swiggy, and NTPC Green.
This massive unlock could flood markets with fresh float, increasing supply dramatically and potentially causing short-term price corrections, especially in already weak or overvalued stocks.
Investors should prepare for near-term volatility but also watch for dips in strong businesses as potential accumulation opportunities once initial selling pressure subsides.


₹4.02 Lakh Crore IPO Lock-In Expiry Wave in H1 2025 in Indian Markets

Market & Forensics Analyst, Beat the Street

Nimish Maheshwari

Market & Forensics Analyst

<ul>
<li>India’s RAC market is growing at 18–20% CAGR, but faces a critical compressor supply shortage due to capacity constraints and BIS-related import delays.</li>
<li>Short-Term risks around component supply, margins, and inventory exist, but structural demand drivers and PLI-driven localization present long-term tailwinds for OEMs and component makers.</li>
<li>Despite near-term volatility, AC sector remains a strong structural story; focus shifts to players with scale, backward integration, and policy-aligned manufacturing strategies.</li>
</ul>


India’s RAC market is growing at 18–20% CAGR, but faces a critical compressor supply shortage due to capacity constraints and BIS-related import delays.
Short-Term risks around component supply, margins, and inventory exist, but structural demand drivers and PLI-driven localization present long-term tailwinds for OEMs and component makers.
Despite near-term volatility, AC sector remains a strong structural story; focus shifts to players with scale, backward integration, and policy-aligned manufacturing strategies.


Thematic Report: Cooling India- Indian Air Conditioner (AC) Industry

<ul>
<li>India approved a INR 22,919 crore PLI scheme for non-chip electronic components, targeting PCBs, display modules, resistors, and more moving beyond finished goods to core sub-assemblies.</li>
<li>This marks a critical shift toward deep localization and import substitution, enhancing India’s value capture, margins, and positioning in the global electronics supply chain.</li>
<li>This PLI redefines India’s electronics play from low-margin assembly to high-value component manufacturing—benefiting players like Dixon, Amber, and Kaynes, and supporting a strategic export pivot.</li>
</ul>


India approved a INR 22,919 crore PLI scheme for non-chip electronic components, targeting PCBs, display modules, resistors, and more moving beyond finished goods to core sub-assemblies.
This marks a critical shift toward deep localization and import substitution, enhancing India’s value capture, margins, and positioning in the global electronics supply chain.
This PLI redefines India’s electronics play from low-margin assembly to high-value component manufacturing—benefiting players like Dixon, Amber, and Kaynes, and supporting a strategic export pivot.


₹22,919 Cr PLI for Components: A Game-Changer Bet to Deepen Electronics Value Chain

Asset Allocation & Fund Positioning, Copley Fund Research

Steven Holden

Asset Allocation & Fund Positioning

Copley Fund Research

Copley Fund Research provide research and data on asset allocation among Global and Emerging Market equity funds.  The analysis details absolute and relative positioning across countries, sectors and industries together with highly granular data on single stock and single fund allocations.  The data is updated monthly with time series going back to January 2011.

Global Research - Analysis of 165 prominent Global equity funds, combined AUM $335bn
GEM Research - Analysis of 127 prominent global EM equity funds, combined AUM $250bn

Asset Allocation - Global and GEM Equity

Quantitative Analysis

<ul>
<li>Despite gold hitting record highs this month, ownership of key gold mining stocks among EM managers remains muted.</li>
<li>AngloGold Ashanti and Harmony Gold Mining have both experienced consistent gains in ownership since their 2023 lows.</li>
<li>Oaktree, Overstone and Vontobel EM strategies hold some of the larger portfolio positions in select Gold stocks.</li>
</ul>


Despite gold hitting record highs this month, ownership of key gold mining stocks among EM managers remains muted.
AngloGold Ashanti and Harmony Gold Mining have both experienced consistent gains in ownership since their 2023 lows.
Oaktree, Overstone and Vontobel EM strategies hold some of the larger portfolio positions in select Gold stocks.
