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>SEBI’s study reveals rising royalty payments by listed companies to related parties, highlighting doubling of payments to Rs. 10,779 crore in FY23 over a decade.</li>
<li>25% of firms pay royalties exceeding 20% of net profits, raising concerns about transparency, governance, and shareholder returns versus royalty prioritization.</li>
<li>SEBI's findings stress the urgency for enhanced royalty disclosures, policy revisions, and better scrutiny to protect minority shareholders and corporate governance standards.</li>
</ul>


SEBI’s study reveals rising royalty payments by listed companies to related parties, highlighting doubling of payments to Rs. 10,779 crore in FY23 over a decade.
25% of firms pay royalties exceeding 20% of net profits, raising concerns about transparency, governance, and shareholder returns versus royalty prioritization.
SEBI's findings stress the urgency for enhanced royalty disclosures, policy revisions, and better scrutiny to protect minority shareholders and corporate governance standards.


SEBI Study: Royalty Payments by Listed Companies to Related Parties

<ul>
<li>SEBI is proposing significant changes to the SME IPO framework, including increasing the minimum application size, restricting the OFS component, and introducing a monitoring agency.</li>
<li>SEBI proposes changes in  the allocation methodology for non-institutional investors, increasing the minimum number of allottees in an SME public issue, and introducing a mandatory profitability benchmark for companies</li>
<li>The proposed changes aim to address concerns regarding investor protection and market integrity in the SME segment. </li>
</ul>


SEBI is proposing significant changes to the SME IPO framework, including increasing the minimum application size, restricting the OFS component, and introducing a monitoring agency.
SEBI proposes changes in  the allocation methodology for non-institutional investors, increasing the minimum number of allottees in an SME public issue, and introducing a mandatory profitability benchmark for companies
The proposed changes aim to address concerns regarding investor protection and market integrity in the SME segment. 


SEBI Proposes Sweeping Changes to SME IPO Framework

Semiconductor & Technology Specialist, Ingenuity

William Keating

Semiconductor & Technology Specialist

Ingenuity

Our focus is exclusively on in-depth research & consulting in the broader semiconductor industry. We focus on the key players, namely Intel, Micron, Qualcomm, Apple, Samsung, NVIDIA, AMD, TSMC & Global Foundries - as well as some of the lesser known, but nonetheless critical, companies such as ASML (for EUV), Mellanox, Cavium, Xilinx etc. We specialise in their products, roadmaps, process technologies, competitive advantages & threats etc. We also help our clients understand the implications of new and emerging technologies, e.g. 3D X-Point, 3D NAND, Carbon Nanotubes, Autonomous Driving, Graphene, Silicon Photonics, Wafer-Level Optics, Artificial Intelligence, FPGA, GPU, ASIC etc. 

Semiconductor Analysis & Research

<ul>
<li>Revenues of $7.05 billion were marginally higher than midpoint of $6.93 billion, up 4% QoQ and up 5% YoY.  Guided current quarter at $7.15 billion +1.5% QoQ , +10.5% YoY</li>
<li>Most WFE share prices have retreated to early 2022 levels, matching with when annual revenues first exceeded the $100 billion level</li>
<li>After a 44% growth spurt in 2021, we have had three years with mostly no growth. We expect the same in 2025. Invest accordingly</li>
</ul>


Revenues of $7.05 billion were marginally higher than midpoint of $6.93 billion, up 4% QoQ and up 5% YoY.  Guided current quarter at $7.15 billion +1.5% QoQ , +10.5% YoY
Most WFE share prices have retreated to early 2022 levels, matching with when annual revenues first exceeded the $100 billion level
After a 44% growth spurt in 2021, we have had three years with mostly no growth. We expect the same in 2025. Invest accordingly


For Its WFE Q324 Season Finale, AMAT Returns ASML's Favour & Sinks Semis Yet Again

<ul>
<li>The <a href="https://www.smartkarma.com/entities/nifty-index" target="_blank" data-smartkarma-citation="entities:23617:1" rel="noopener">NIFTY Index (NIFTY INDEX)</a> has witnessed a significant decline, falling below its 200-DMA, a key technical indicator, for the first time since April 2023.</li>
<li>Historical analysis reveals that Nifty has traded below this level approximately 30% of the time since 1996, suggesting that this occurrence is not as unusual as it might initially seem.</li>
<li>While short-term market volatility is anticipated, historical data demonstrates that the Nifty has generally recovered strongly over longer timeframes following similar dips below its 200-DMA.</li>
</ul>


The NIFTY Index (NIFTY INDEX) has witnessed a significant decline, falling below its 200-DMA, a key technical indicator, for the first time since April 2023.
Historical analysis reveals that Nifty has traded below this level approximately 30% of the time since 1996, suggesting that this occurrence is not as unusual as it might initially seem.
While short-term market volatility is anticipated, historical data demonstrates that the Nifty has generally recovered strongly over longer timeframes following similar dips below its 200-DMA.


Nifty Below 200-DMA: A Sign of Bear Market or a Buying Opportunity?

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

Cross Asset Strategy

<ul>
<li>China, India, Saudi Arabia, and Taiwan remain key underweights.  Recovery in Malaysia, Thailand, Turkey, and South Africa, correction in Indonesia and Mexico. Developed Markets the largest overweight for EM investors.</li>
<li>Discretionary, Staples, and Industrials the key overweights, Materials and Energy the underweights. Rotation out of Tech moves positioning from overweight to underweight for the first time since 2019.</li>
<li>Ownership climbs for Meituan and SK Hynix, Baidu and Yum China see sharp declines. Downtrends persist in Vale, Telkom Indonesia.  Recovery in SK Telekom, Garanti Bank, highs in Emaar Properties. </li>
</ul>


China, India, Saudi Arabia, and Taiwan remain key underweights.  Recovery in Malaysia, Thailand, Turkey, and South Africa, correction in Indonesia and Mexico. Developed Markets the largest overweight for EM investors.
Discretionary, Staples, and Industrials the key overweights, Materials and Energy the underweights. Rotation out of Tech moves positioning from overweight to underweight for the first time since 2019.
Ownership climbs for Meituan and SK Hynix, Baidu and Yum China see sharp declines. Downtrends persist in Vale, Telkom Indonesia.  Recovery in SK Telekom, Garanti Bank, highs in Emaar Properties. 


Turkey
Insights on Turkey

SEBI Proposes Sweeping Changes to SME IPO Framework

SEBI is proposing changes to the SME IPO framework to enhance investor protection and market integrity, including increasing minimum application...

Nimish Maheshwari

For Its WFE Q324 Season Finale, AMAT Returns ASML's Favour & Sinks Semis Yet Again

AMAT's so-so quarter & outlook tanked semis as earnings season ends, just like ASML did when it began. Most WFE share prices are now back at early...

William Keating

Nifty Below 200-DMA: A Sign of Bear Market or a Buying Opportunity?

The NIFTY Index falls below 200-DMA for the first time since April 2023, historical analysis shows recovery trends post similar dips.

Nimish Maheshwari

Active GEM Funds: Positioning Chart Pack

In this chart pack, we highlight the key country, sector and stock exposures among active Emerging Markets equity funds.

Steven Holden

SEBI Study: Royalty Payments by Listed Companies to Related Parties

​SEBI study shows listed companies increasing royalty payments to related parties, raising transparency and governance concerns, urging for better...

Nimish Maheshwari

SEBI Proposes Sweeping Changes to SME IPO Framework

​SEBI is proposing changes to the SME IPO framework to enhance investor protection and market integrity, including increasing minimum application...

Nimish Maheshwari

For Its WFE Q324 Season Finale, AMAT Returns ASML's Favour & Sinks Semis Yet Again

AMAT's so-so quarter & outlook tanked semis as earnings season ends, just like ASML did when it began. Most WFE share prices are now back at early...

William Keating

Nifty Below 200-DMA: A Sign of Bear Market or a Buying Opportunity?

​The NIFTY Index falls below 200-DMA for the first time since April 2023, historical analysis shows recovery trends post similar dips.

Nimish Maheshwari

Active GEM Funds: Positioning Chart Pack

In this chart pack, we highlight the key country, sector and stock exposures among active Emerging Markets equity funds.

Steven Holden

SEBI study shows listed companies increasing royalty payments to related parties, raising transparency and governance concerns, urging for better...

SEBI is proposing changes to the SME IPO framework to enhance investor protection and market integrity, including increasing minimum application...

The NIFTY Index falls below 200-DMA for the first time since April 2023, historical analysis shows recovery trends post similar dips.