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>For the first time since 2006, individual investors—through both direct holdings and mutual fund participation—now collectively own a larger share of the Indian stock market than foreign portfolio investors (FPIs). </li>
<li>This milestone reflects not just a cyclical trend but a fundamental shift in market ownership, behaviour, and breadth of participation. </li>
<li>Driven by sustained SIP flows, government disinvestments, regulatory changes, and the broad underperformance of large-cap names, Indian investors are now not just participants, but market shapers.</li>
</ul>


For the first time since 2006, individual investors—through both direct holdings and mutual fund participation—now collectively own a larger share of the Indian stock market than foreign portfolio investors (FPIs). 
This milestone reflects not just a cyclical trend but a fundamental shift in market ownership, behaviour, and breadth of participation. 
Driven by sustained SIP flows, government disinvestments, regulatory changes, and the broad underperformance of large-cap names, Indian investors are now not just participants, but market shapers.


Thematic Report : The Rise of Domestic Capital in Indian Equities: Ownership, Breadth, and Maturity

APAC IPOs & Placements, Aequitas Research

Rosita Fernandes

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

Pace Digitek Ltd / Equity Capital Markets

Pace Digitek Private Limited operates as a power generation equipment company.The Company offers hybrid DC power system, innovation, research, creative, design, AMF, charge control unit, and lithium battery products. Pace Digitek Private serves customers worldwide.

<ul>
<li>
<a href="https://www.smartkarma.com/entities/pace-digitek-ltd" target="_blank" data-smartkarma-citation="entities:45049:1" rel="noopener">Pace Digitek Ltd (0180382D IN)</a>  (PDL) is planning to raise about US$105m through its upcoming India IPO. The lead bookrunner for the deal is Unistone.</li>
<li>PDL provides multi-disciplinary solutions in telecom passive infrastructure, offering turnkey services across India, Myanmar, and Africa. Initially manufacturing passive equipment, it expanded into products, projects, O&amp;M, and service solutions.</li>
<li>PDL transitioned from manufacturing passive telecom equipment to providing multi-disciplinary solutions, including telecom, energy, and ICT products, services, and turnkey projects, with a focus on O&amp;M, renewables, and infrastructure development.</li>
</ul>



Pace Digitek Ltd (0180382D IN)  (PDL) is planning to raise about US$105m through its upcoming India IPO. The lead bookrunner for the deal is Unistone.
PDL provides multi-disciplinary solutions in telecom passive infrastructure, offering turnkey services across India, Myanmar, and Africa. Initially manufacturing passive equipment, it expanded into products, projects, O&amp;M, and service solutions.
PDL transitioned from manufacturing passive telecom equipment to providing multi-disciplinary solutions, including telecom, energy, and ICT products, services, and turnkey projects, with a focus on O&amp;M, renewables, and infrastructure development.


India Equity Analyst - Fundamental & Thematic, Beat the Street

Sudarshan Bhandari

India Equity Analyst - Fundamental & Thematic

Equity Bottom-Up

Tata Motors Limited manufactures cars and commercial automotive vehicles. The Company designs, manufactures, and sells heavy, medium, and small commercial vehicles including trucks, tankers, vans, buses, ambulances and minibuses. Tata also manufactures small cars and sports utility vehicles.

<ul>
<li>The US imposed a 25% tariff on auto imports, affecting Tata Motors’ JLR unit, where the US accounts for 22% of sales.</li>
<li>This could shave off 200–300 bps from JLR’s EBITDA margin or weaken US volumes if costs are passed on to consumers.  </li>
<li>Tata Motors' FY25 EBIT margin guidance of ≥8.5% looks ambitious; a realistic range may shift to 6.5–7.5% without swift demand or cost-side offsets.</li>
</ul>


The US imposed a 25% tariff on auto imports, affecting Tata Motors’ JLR unit, where the US accounts for 22% of sales.
This could shave off 200–300 bps from JLR’s EBITDA margin or weaken US volumes if costs are passed on to consumers.  
Tata Motors' FY25 EBIT margin guidance of ≥8.5% looks ambitious; a realistic range may shift to 6.5–7.5% without swift demand or cost-side offsets.


Can Tata Motors Withstand the 25% U.S. Auto Tariffs Or It Will Collapse Further?

Derivatives and Quantitative Strategist

Gaudenz Schneider

Macroeconomics

<ul>
<li>
India: RBI rate decision on 9 April, 0.25% cut expected.</li>
<li>
CPI Release: Several economies release CPI data next week, while central banks update their forecasts and scenarios with the recently released US tariffs.</li>
<li>
Monthly Option Expiries: in India (BSE Stock options), Japan (Nikkei, Topix, Stocks), and South Korea (Kospi 200). The BSE moved the expiry one day forward due to a holiday.</li>
</ul>



India: RBI rate decision on 9 April, 0.25% cut expected.

CPI Release: Several economies release CPI data next week, while central banks update their forecasts and scenarios with the recently released US tariffs.

Monthly Option Expiries: in India (BSE Stock options), Japan (Nikkei, Topix, Stocks), and South Korea (Kospi 200). The BSE moved the expiry one day forward due to a holiday.


Market Movers: Key Dates at a Glance (7 - 13 April)

External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

External broker reports(aggregated public sources)

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Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>The US government under Trump 2.0 has announced reciprocal tariffs across countries, including ~26% tariff on imports from India</li><li>However, pharmaceutical products were exempted from the first round of tariffs</li><li>This is a positive for the sector, which has been under a tariff overhang since the last 2-3 months</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

The US government under Trump 2.0 has announced reciprocal tariffs across countries, including ~26% tariff on imports from IndiaHowever, pharmaceutical products were exempted from the first round of tariffsThis is a positive for the sector, which has been under a tariff overhang since the last 2-3 monthsContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Pharmaceuticals: Pharma dodges first round of US tariff risk