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>RBI halts loan sanctions for four NBFCs due to excessive rates and rule violations, signaling concerns over rising NPAs in retail lending.</li>
<li>Slippages and delinquencies in retail loans are rising, driven by smaller loans and fintech-driven credit growth, prompting stricter regulatory scrutiny.</li>
<li>Emphasis is shifting towards cautious lending and stronger regulations to stabilize the sector, indicating a more conservative approach in India’s credit landscape.</li>
</ul>


RBI halts loan sanctions for four NBFCs due to excessive rates and rule violations, signaling concerns over rising NPAs in retail lending.
Slippages and delinquencies in retail loans are rising, driven by smaller loans and fintech-driven credit growth, prompting stricter regulatory scrutiny.
Emphasis is shifting towards cautious lending and stronger regulations to stabilize the sector, indicating a more conservative approach in India’s credit landscape.


Thematic Report: Slowdown in India's Credit Sector

Covering the Mexican Economy, Actinver Research

Actinver

Covering the Mexican Economy

Actinver Research

Actinver is a mexican leading financial group, that generates well being for individuals and companies through advisory services that provides investment management to maintain and grow their wealth.

Macroeconomics

<ul>
<li>Having recently launched our Food &amp; Bev coverage (link to report here), we reiterate our Outperform ratings in beverage companies AC (PT down to P$205 from P$210), KOF (P$197 PT), FEMSA (PT up to P$230 from P$222), and Becle (PT down to P$33 from P$36).</li>
<li>We see Coke bottlers as better positioned amid a competitive environment and a picky consumer, while we forecast improving trends in FEMSA and Becle.</li>
<li>We are more cautious on Bimbo (Market Perform) and Gruma (Market Perform), given harsh competition in their main markets and a more limited price/volume growth potential, in our view.</li>
</ul>


Having recently launched our Food &amp; Bev coverage (link to report here), we reiterate our Outperform ratings in beverage companies AC (PT down to P$205 from P$210), KOF (P$197 PT), FEMSA (PT up to P$230 from P$222), and Becle (PT down to P$33 from P$36).
We see Coke bottlers as better positioned amid a competitive environment and a picky consumer, while we forecast improving trends in FEMSA and Becle.
We are more cautious on Bimbo (Market Perform) and Gruma (Market Perform), given harsh competition in their main markets and a more limited price/volume growth potential, in our view.


Actinver Research - Consumer post 3Q24: Sales deceleration while trying to protect margins

Senior Credit Analyst - Emerging Markets, EM Spreads

Leandro Gubler

Senior Credit Analyst - Emerging Markets

EM Spreads

Credit

Petroleos Mexicanos operates as an oil and gas exploration and production services. The Company offers pipeline carriage, petrochemical distributor and shipping centers, logistics, and fuel commercialization services. Petroleos Mexicanos serves customers in Mexico.

<ul>
<li>We believe that PEMEX’s reclassification, stronger linkage to the sovereign, and its payment program to stabilize balances with suppliers and contractors will support further spread compression.</li>
<li>The spread pickup is more appealing at the belly and long end than at the shorter-dated notes, as most PEMEX bonds maturing before 2029 trade at or near par.</li>
<li>3Q24 results continued to highlight PEMEX’s vulnerability and its significant reliance on government support.</li>
</ul>


We believe that PEMEX’s reclassification, stronger linkage to the sovereign, and its payment program to stabilize balances with suppliers and contractors will support further spread compression.
The spread pickup is more appealing at the belly and long end than at the shorter-dated notes, as most PEMEX bonds maturing before 2029 trade at or near par.
3Q24 results continued to highlight PEMEX’s vulnerability and its significant reliance on government support.


PEMEX 3Q24: Government Support Continues to Strengthen

Equity Bottom-Up

La Comer, S.A.B. de C.V. operates grocery stores and hypermarkets.

<ul>
<li>Revenues of P$10.6bn grew 10.5% YoY and were slightly ahead of our estimates.</li>
<li>SSS of 7.6% YoY was in line with our estimates and better than peers’.</li>
<li>All formats, regions (especially the Western region), and categories (especially perishable and prepared food) posted an increase in sales.</li>
</ul>


Revenues of P$10.6bn grew 10.5% YoY and were slightly ahead of our estimates.
SSS of 7.6% YoY was in line with our estimates and better than peers’.
All formats, regions (especially the Western region), and categories (especially perishable and prepared food) posted an increase in sales.


Global Emerging Market Equities, Propitious Research

Wium Malan, CFA

Global Emerging Market Equities

Independent, Fundamental Quantitative Research

Propitious Research

Fully independent, fundamental and quantitative equity research, focused on companies in the Telecommunication, Media, Technology, Internet and Healthcare sectors in the Global Emerging Markets. Idea generation focused on Quality stocks, trading below their intrinsic Value, with sound Corporate Governance.

Quantitative Analysis

<ul>
<li>An overview (and output) of our machine learning-driven GEM screening model, which seeks to find the best medium-term long ideas within the top 100 stocks in the MSCI GEM Index.</li>
<li>The model is based on 1) a quantitative multifactor screening model, enhanced by two AI Technology-based approaches; 2) a Deep Neural Network model, and 3) a Recurrent Neural Network model.</li>
<li>Developed over roughly 4 years and implemented in its current state for over 3 years, the model has a solid real-world alpha-generating performance track record, discussed in detail below.</li>
</ul>


An overview (and output) of our machine learning-driven GEM screening model, which seeks to find the best medium-term long ideas within the top 100 stocks in the MSCI GEM Index.
The model is based on 1) a quantitative multifactor screening model, enhanced by two AI Technology-based approaches; 2) a Deep Neural Network model, and 3) a Recurrent Neural Network model.
Developed over roughly 4 years and implemented in its current state for over 3 years, the model has a solid real-world alpha-generating performance track record, discussed in detail below.


Mexico
Insights on Mexico

Thematic Report: Slowdown in India's Credit Sector

RBI halts loan sanctions for NBFCs due to excessive rates and rule violations, signaling concerns over rising NPAs in retail lending and prompting...

Nimish Maheshwari

Actinver Research - Consumer post 3Q24: Sales deceleration while trying to protect margins

Having recently launched our Food & Bev coverage (link to report here), we reiterate our Outperform ratings in beverage companies AC (PT down to...

Actinver

PEMEX 3Q24: Government Support Continues to Strengthen

PEMEX's reclassification and payment program will help spread compression, but vulnerability and reliance on government support remain key concerns.

Leandro Gubler

La Comer 3Q24: In-Line Solid Results

Revenues of P$10.6bn grew 10.5% YoY and were slightly ahead of our estimates. SSS of 7.6% YoY was in line with our estimates and better than peers’.

Actinver

Screening for GEMs: November 2024

This insight provides an overview of our, machine learning-driven, proprietary GEM screening model, based on a Multifactor model, a Deep Neural...

Wium Malan, CFA

Thematic Report: Slowdown in India's Credit Sector

​RBI halts loan sanctions for NBFCs due to excessive rates and rule violations, signaling concerns over rising NPAs in retail lending and prompting...

Nimish Maheshwari

Actinver Research - Consumer post 3Q24: Sales deceleration while trying to protect margins

Having recently launched our Food & Bev coverage (link to report here), we reiterate our Outperform ratings in beverage companies AC (PT down to...

Actinver

PEMEX 3Q24: Government Support Continues to Strengthen

​PEMEX's reclassification and payment program will help spread compression, but vulnerability and reliance on government support remain key concerns.

Leandro Gubler

La Comer 3Q24: In-Line Solid Results

Revenues of P$10.6bn grew 10.5% YoY and were slightly ahead of our estimates. SSS of 7.6% YoY was in line with our estimates and better than peers’.

Actinver

Screening for GEMs: November 2024

This insight provides an overview of our, machine learning-driven, proprietary GEM screening model, based on a Multifactor model, a Deep Neural...

Wium Malan, CFA

RBI halts loan sanctions for NBFCs due to excessive rates and rule violations, signaling concerns over rising NPAs in retail lending and prompting...

PEMEX's reclassification and payment program will help spread compression, but vulnerability and reliance on government support remain key concerns.