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>CPP and ADB are negotiating a $100 million investment in JBM Ecolife.</li>
<li>Vedanta plans to allocate $2 billion for dividends in FY25, supported by strong cash flow.</li>
<li>UltraTech Cement will launch an open offer on September 19 to acquire a 26% stake in India Cements.</li>
</ul>


CPP and ADB are negotiating a $100 million investment in JBM Ecolife.
Vedanta plans to allocate $2 billion for dividends in FY25, supported by strong cash flow.
UltraTech Cement will launch an open offer on September 19 to acquire a 26% stake in India Cements.


# 44 India Insight: CPP & ADB Investment in JBM, Vedanta Dividend, Indian Oil Capacity Expansion

APAC IPOs & Placements, Aequitas Research

Clarence Chu

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

<ul>
<li>The promoters of <a href="https://www.smartkarma.com/entities/patanjali-foods-ltd" target="_blank" data-smartkarma-citation="entities:12707:1" rel="noopener">Patanjali Foods (PATANJAL IN)</a> are looking to increase the firm’s public shareholding to the minimum required 25% imposed by SEBI.</li>
<li>We had discussed about this in their effective re-listing FPO last year, and the deal has been well covered by media sources as well, thus it is very well flagged.</li>
<li>While it would be a large one to digest, representing at least 62.1 days of the firm’s three month ADV, the deal will lift the remaining overhang on the stock.</li>
</ul>


The promoters of Patanjali Foods (PATANJAL IN) are looking to increase the firm’s public shareholding to the minimum required 25% imposed by SEBI.
We had discussed about this in their effective re-listing FPO last year, and the deal has been well covered by media sources as well, thus it is very well flagged.
While it would be a large one to digest, representing at least 62.1 days of the firm’s three month ADV, the deal will lift the remaining overhang on the stock.


Patanjali Foods Early FPO Look - Lifting the Overhang with a Well Flagged Deal. Re-Listing Went Well

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

Honasa Consumer  / Equity Capital Markets

<ul>
<li>Honasa Consumer (HC) is looking to raise about US$350m in its upcoming India IPO.</li>
<li>HC’s product portfolio includes products in the baby care, face care, body care, hair care, color cosmetics and fragrances segments. </li>
<li>In this note, we will talk about the positive aspects of the deal.</li>
</ul>


Honasa Consumer (HC) is looking to raise about US$350m in its upcoming India IPO.
HC’s product portfolio includes products in the baby care, face care, body care, hair care, color cosmetics and fragrances segments. 
In this note, we will talk about the positive aspects of the deal.


Honasa Consumer Pre-IPO - The Positives - New Age DTC Brand

<ul>
<li>
<a href="https://www.smartkarma.com/entities/ruchi-soya-industries-ltd" target="_blank" data-smartkarma-citation="entities:12707:1" rel="noopener">Ruchi Soya Industries (RSI IN)</a> is looking to raise up to US$560m via a follow-on public offer.</li>
<li>The deal is almost akin to a relisting, as the free float was just at 1% prior to this deal. </li>
<li>Given the tight float, instead of discussing its track record , we will discuss the timeline of events leading up to the deal, past performance and undertake a peer comparison/valuation. </li>
</ul>



Ruchi Soya Industries (RSI IN) is looking to raise up to US$560m via a follow-on public offer.
The deal is almost akin to a relisting, as the free float was just at 1% prior to this deal. 
Given the tight float, instead of discussing its track record , we will discuss the timeline of events leading up to the deal, past performance and undertake a peer comparison/valuation. 


Ruchi Soya Placement - Almost Akin to a Relisting

External broker reports(aggregated public sources), Motilal Oswal Financial Services Limited

Motilal Oswal

External broker reports(aggregated public sources)

Motilal Oswal Financial Services Limited

Motilal Oswal Financial Services Limited is an Indian diversified financial services firm offering a range of financial products and 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.

Equity Bottom-Up

<ul><li>Demand recovery across segments to propel earnings Godrej Agrovet (GOAGRO) is likely to witness better demand across its segments of Palm Oil, Animal Feed (AF) and Crop Protection (CP).</li><li>Conversely, the palm oil business is likely to be a beneficiary of rising prices.</li><li>The palm oil prices rallied 42% YoY to USD1,383/t as of Jan'22..</li></ul><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>

Demand recovery across segments to propel earnings Godrej Agrovet (GOAGRO) is likely to witness better demand across its segments of Palm Oil, Animal Feed (AF) and Crop Protection (CP).Conversely, the palm oil business is likely to be a beneficiary of rising prices.The palm oil prices rallied 42% YoY to USD1,383/t as of Jan'22..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.

Demand recovery across segments to propel earnings

India

Godrej Agrovet Limited (GAVL) operates as an animal feed and agribusiness company. The Company specializes in poultry processing, animal feed, oil palm plantations, crop protection, agri inputs, and dairy products. GAVL serves customers worldwide.

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Godrej Agrovet Ltd (GOAGRO IN)

# 44 India Insight: CPP & ADB Investment in JBM, Vedanta Dividend, Indian Oil Capacity Expansion

CPP and ADB to invest $100 million in JBM Ecolife, Vedanta plans $2 billion dividends in FY25, UltraTech Cement to acquire 26% stake in India...

Sudarshan Bhandari

Patanjali Foods Early FPO Look - Lifting the Overhang with a Well Flagged Deal. Re-Listing Went Well

The promoters just launched an OFS to sell a 7% stake, with the option to sell an additional 2% in the case of oversubscription. The shares are...

Clarence Chu

Honasa Consumer Pre-IPO - The Positives - New Age DTC Brand

Honasa Consumer, a DTC beauty and personal care brand, is looking to raise about US$350m in its upcoming India IPO. In this note, we will talk...

Sumeet Singh

Ruchi Soya Placement - Almost Akin to a Relisting

Ruchi Soya Industries (RSI IN) is looking to raise up to US$560m via a follow-on public offer. The deal is almost akin to a relisting, as the free...

Clarence Chu

Demand recovery across segments to propel earnings

Demand recovery across segments to propel earnings Godrej Agrovet (GOAGRO) is likely to witness better demand across its segments of Palm Oil,...

Motilal Oswal

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

# 44 India Insight: CPP & ADB Investment in JBM, Vedanta Dividend, Indian Oil Capacity Expansion

​CPP and ADB to invest $100 million in JBM Ecolife, Vedanta plans $2 billion dividends in FY25, UltraTech Cement to acquire 26% stake in India...

Sudarshan Bhandari

Patanjali Foods Early FPO Look - Lifting the Overhang with a Well Flagged Deal. Re-Listing Went Well

The promoters just launched an OFS to sell a 7% stake, with the option to sell an additional 2% in the case of oversubscription. The shares are...

Clarence Chu

Honasa Consumer Pre-IPO - The Positives - New Age DTC Brand

Honasa Consumer, a DTC beauty and personal care brand, is looking to raise about US$350m in its upcoming India IPO. In this note, we will talk...

Sumeet Singh

Ruchi Soya Placement - Almost Akin to a Relisting

Ruchi Soya Industries (RSI IN) is looking to raise up to US$560m via a follow-on public offer. The deal is almost akin to a relisting, as the free...

Clarence Chu

Demand recovery across segments to propel earnings

Demand recovery across segments to propel earnings Godrej Agrovet (GOAGRO) is likely to witness better demand across its segments of Palm Oil,...

Motilal Oswal

CPP and ADB to invest $100 million in JBM Ecolife, Vedanta plans $2 billion dividends in FY25, UltraTech Cement to acquire 26% stake in India...