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

Equity Bottom-Up

Action Construction Equipment / Equity Bottom-Up

<ul>
<li>Action Construction - a leader in construction and heavy equipment theme is going for transformation with a defence foray and new product launches</li>
<li>With strong guidance and the historical success of good execution makes a good bet on the current infrastructure and manufacturing theme</li>
<li>The risk includes a slowdown in the election period and stiff competition from larger players</li>
</ul>


Action Construction - a leader in construction and heavy equipment theme is going for transformation with a defence foray and new product launches
With strong guidance and the historical success of good execution makes a good bet on the current infrastructure and manufacturing theme
The risk includes a slowdown in the election period and stiff competition from larger players


The Beat Ideas: Action Construction - A Bet on Manufacturing & Infrastructure Theme

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

Carraro India Limited / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/carraro-india-limited" target="_blank" data-smartkarma-citation="entities:43890:1" rel="noopener">Carraro India Limited (810618Z IN)</a> is looking to raise about US$216m in its India IPO.</li>
<li>Carraro India Limited (CIL), is an independent tier 1 solution provider of axles, transmission systems and gears for the agricultural tractor and construction vehicle industries in India.</li>
<li>In this note, we talk about the company’s historical performance.</li>
</ul>



Carraro India Limited (810618Z IN) is looking to raise about US$216m in its India IPO.
Carraro India Limited (CIL), is an independent tier 1 solution provider of axles, transmission systems and gears for the agricultural tractor and construction vehicle industries in India.
In this note, we talk about the company’s historical performance.


Carraro India Pre-IPO - Strategic Partnerships and Related Party Risks

Thematic (Sector/Industry)

<ul>
<li>India's construction equipment sector surged by 26% in FY23, hitting a milestone of over 100,000 units sold, driven by infrastructure and railway demand.</li>
<li>Obust growth in infrastructure projects, valued at USD 7.9 Bn in 2023, with an estimated growth to USD 12.4 Bn by 2029, highlights a thriving market.</li>
<li>2 Companies in India is riding on the wave of this fast growing construction equipment industry.</li>
</ul>


India's construction equipment sector surged by 26% in FY23, hitting a milestone of over 100,000 units sold, driven by infrastructure and railway demand.
Obust growth in infrastructure projects, valued at USD 7.9 Bn in 2023, with an estimated growth to USD 12.4 Bn by 2029, highlights a thriving market.
2 Companies in India is riding on the wave of this fast growing construction equipment industry.


Themes of India: Construction Equipment Industry

Indian Accounting Research Analyst, Trudence Capital Advisors

Nitin Mangal

Indian Accounting Research Analyst

Trudence Capital Advisors

Trudence Capital Advisors Private Limited is a SEBI-registered Research Analyst, holding SEBI registration number INH000015747. Our firm is dedicated to providing independent and unbiased research on Indian mid to large-cap companies. Trudence Capital is known for its counter-consensus views, with a focus on forensic research and on-ground primary investigations. Our research approach is thorough, involving detailed analysis of accounting practices and governance, alongside extensive channel checks.

Independent & Unbiased Research

Forensic Accounting

Action Construction Equipment / Forensic Accounting

<ul>
<li>
<a href="https://www.smartkarma.com/entities/action-construction-equipment" target="_blank" data-smartkarma-citation="entities:17379:1" rel="noopener">Action Construction Equipment (ACCE IN)</a> is a specialist in cranes. It is also in the business of material-handling, construction equipment and agri products such as tractors and harvesters. </li>
<li>What has attracted eyes towards ACE is the incredible growth. F16-F19 especially was the high growth period where the company registered a growth of 28% CAGR.</li>
<li>However a deep analysis reveals that the 'aggressive growth' is rather fictional in nature. We combine this with other facets to give us an idea why ACE remains uncertain.</li>
</ul>



Action Construction Equipment (ACCE IN) is a specialist in cranes. It is also in the business of material-handling, construction equipment and agri products such as tractors and harvesters. 
What has attracted eyes towards ACE is the incredible growth. F16-F19 especially was the high growth period where the company registered a growth of 28% CAGR.
However a deep analysis reveals that the 'aggressive growth' is rather fictional in nature. We combine this with other facets to give us an idea why ACE remains uncertain.


Forensic Analysis: Action Construction Equipment Ltd

External broker reports(aggregated public sources), ICICI Securities Ltd

ICICI Securities Limited

External broker reports(aggregated public sources)

ICICI Securities Ltd

ICICI Securities Limited provides investment services. The Company provides corporate and investment banking, securities, wealth management, retail brokerage, initial public offerings, and advisory services. 

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.

<h2>Muhurat Pick – 2021</h2><p>Indian markets have been one of the best performing markets this calendar year and are up 25% YTD CY21. They have deftly climbed the wall of worry be it the second Covid wave in the country in April-May 2021 or the third wave expectations during August-September 2021. This was due to a confluence of fundamental factors: First and foremost, equity as an asset class is being widely and rightly recognised as an asset generating inflation beating returns or real returns over a long period of time and is indeed very much liquid in nature; the TINA (there is no alternative) factor is at play. Secondly, with the increase in pace of digitisation, a set of efficiencies have creeped into organisations as well as the economy, indicating better corporate earnings/GDP growth. Thirdly, with new age technology platforms, the reach of equities has increased with record number of demat accounts being opened over the last 18 months, indicating enhanced retail participation.</p><div class="content-highlight"><em>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.</em></div>

Muhurat Pick – 2021Indian markets have been one of the best performing markets this calendar year and are up 25% YTD CY21. They have deftly climbed the wall of worry be it the second Covid wave in the country in April-May 2021 or the third wave expectations during August-September 2021. This was due to a confluence of fundamental factors: First and foremost, equity as an asset class is being widely and rightly recognised as an asset generating inflation beating returns or real returns over a long period of time and is indeed very much liquid in nature; the TINA (there is no alternative) factor is at play. Secondly, with the increase in pace of digitisation, a set of efficiencies have creeped into organisations as well as the economy, indicating better corporate earnings/GDP growth. Thirdly, with new age technology platforms, the reach of equities has increased with record number of demat accounts being opened over the last 18 months, indicating enhanced retail participation.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.

Muhurat Picks 2021: Bata India, TCNS Clothing, Bank of Baroda & More

India

Action Construction Equipment Ltd. manufactures cranes.  The Company produces hydraulic mobile cranes, mobile tower cranes, and other construction equipment.

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Action Construction Equipment (ACCE IN)

The Beat Ideas: Action Construction - A Bet on Manufacturing & Infrastructure Theme

Action Construction, a construction and heavy equipment leader, is undergoing transformation with a defence expansion and new product launches,...

Sudarshan Bhandari

Themes of India: Construction Equipment Industry

India's construction equipment sector is booming, with a 26% surge in sales driven by infrastructure and railway demand, reaching over 1L units...

Sudarshan Bhandari

Forensic Analysis: Action Construction Equipment Ltd

ACE has reported exceptional growth in recent years, however the due diligence of financials reveal that the growth is rather too good to be true.

Nitin Mangal

Muhurat Picks 2021: Bata India, TCNS Clothing, Bank of Baroda & More

Indian markets have been one of the best performing markets this calendar year and are up 25% YTD CY21. They have deftly climbed the wall of worry...

ICICI Securities Limited

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

The Beat Ideas: Action Construction - A Bet on Manufacturing & Infrastructure Theme

​Action Construction, a construction and heavy equipment leader, is undergoing transformation with a defence expansion and new product launches,...

Sudarshan Bhandari

Carraro India Pre-IPO - Strategic Partnerships and Related Party Risks

Carraro India Limited is looking to raise about US$216m in its India IPO. In this note, we talk about the company’s historical performance.

Akshat Shah

Themes of India: Construction Equipment Industry

​India's construction equipment sector is booming, with a 26% surge in sales driven by infrastructure and railway demand, reaching over 1L units...

Sudarshan Bhandari

Forensic Analysis: Action Construction Equipment Ltd

ACE has reported exceptional growth in recent years, however the due diligence of financials reveal that the growth is rather too good to be true.

Nitin Mangal

Muhurat Picks 2021: Bata India, TCNS Clothing, Bank of Baroda & More

Indian markets have been one of the best performing markets this calendar year and are up 25% YTD CY21. They have deftly climbed the wall of worry...

ICICI Securities Limited

Action Construction, a construction and heavy equipment leader, is undergoing transformation with a defence expansion and new product launches,...

India's construction equipment sector is booming, with a 26% surge in sales driven by infrastructure and railway demand, reaching over 1L units...