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

Event-Driven

<ul>
<li>A special call auction shall be held on October 28, 2024 by BSE &amp; NSE to discover hidden value in Investment Holding Companies.</li>
<li>BSE and NSE came out with the list of 8-9 Companies that are eligible for this special session. </li>
<li>We calculated the upside left in these companies using the Current price with 30% discount: 3 Companies with more than 100% upside.</li>
</ul>


A special call auction shall be held on October 28, 2024 by BSE &amp; NSE to discover hidden value in Investment Holding Companies.
BSE and NSE came out with the list of 8-9 Companies that are eligible for this special session. 
We calculated the upside left in these companies using the Current price with 30% discount: 3 Companies with more than 100% upside.


Event Driven: Special Call Auction in Indian Holding Companies

<ul>
<li>SEBI introduced the SPECIAL CALL AUCTION framework for Listed Holding Companies to unlock the value.</li>
<li>The first special call auction is set to take place in October.</li>
<li>Some companies are trading at a discount of more than 50% or even 80%, post this framework, shares will be traded at fair value.</li>
</ul>


SEBI introduced the SPECIAL CALL AUCTION framework for Listed Holding Companies to unlock the value.
The first special call auction is set to take place in October.
Some companies are trading at a discount of more than 50% or even 80%, post this framework, shares will be traded at fair value.


Unlocking Value: SEBI's New Special Call Auction Mechanism Explained

Equity L/S Analyst | Forensic Accounting | India, Yellowstone Equity

Ankit Agrawal, CFA

Equity L/S Analyst | Forensic Accounting | India

Creating Wealth through Alpha and Compounding

Yellowstone Equity

Providing unbiased and independent research on Indian equities to global institutions and individual investors


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Regulatory Disclosure: 
Note that Ankit Agrawal (Proprietor of Yellowstone Equity) is a SEBI registered Research Analyst (Registration No.: INH000007216). Registration granted by SEBI and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors. Investment in securities market are subject to market risks. Read all the related documents carefully before investing.

Research Analyst Contact Details:
Address: A-412, Shilp Aaron, Sindhu Bhavan Road, Ahmedabad, Gujarat - 380059
Email: services@yellowstoneequity.com
Mobile: +91-7575817289

Compliance/Grievance Officer:
Name: Ankit Agrawal
Email: services@yellowstoneequity.com
Mobile: +91-7575817289
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Equity Bottom-Up

<ul>
<li>BAF reported a decent Q4FY24 led by strong AUM growth and robust customer acquisition. Adjusted for the impact of the regulatory ban, Q4FY24 results were in line with the expectation.  </li>
<li>The biggest negative surprise in Q4FY24 was the 21bp NIM compression. NIM compressed led by AUM composition shifting incrementally to secured assets. </li>
<li>BAF is optimistic on growth across segments, except Rural B2C where risk metrics are somewhat elevated; however this should normalize, given Rural B2B is doing fine.</li>
</ul>


BAF reported a decent Q4FY24 led by strong AUM growth and robust customer acquisition. Adjusted for the impact of the regulatory ban, Q4FY24 results were in line with the expectation.  
The biggest negative surprise in Q4FY24 was the 21bp NIM compression. NIM compressed led by AUM composition shifting incrementally to secured assets. 
BAF is optimistic on growth across segments, except Rural B2C where risk metrics are somewhat elevated; however this should normalize, given Rural B2B is doing fine.


Bajaj Finance (BAF): Strengthening Franchise to Sustain Growth Longevity

<ul>
<li>
<a href="https://www.smartkarma.com/entities/bajaj-finance-ltd" target="_blank" data-smartkarma-citation="entities:8950:1" rel="noopener">Bajaj Finance (BAF)</a> reported a strong Q1FY24 earnings, led by an all-time-high quarterly AUM growth of INR 22718cr. With this, BAF has upgraded its FY24 AUM growth guidance to 29-31%.</li>
<li>AUM growth was aided by the highest ever new loans in a quarter. New loans booked at 9.94mm in Q1FY24 were up 34% YoY and 31%+ QoQ.</li>
<li>Opex-To-NII has come down to 34.0% vs 35%+ earlier, led by operational leverage and deceleration in investments. This has helped the ROE to jump to 24.0% vs 23.1% YoY.</li>
</ul>



Bajaj Finance (BAF) reported a strong Q1FY24 earnings, led by an all-time-high quarterly AUM growth of INR 22718cr. With this, BAF has upgraded its FY24 AUM growth guidance to 29-31%.
AUM growth was aided by the highest ever new loans in a quarter. New loans booked at 9.94mm in Q1FY24 were up 34% YoY and 31%+ QoQ.
Opex-To-NII has come down to 34.0% vs 35%+ earlier, led by operational leverage and deceleration in investments. This has helped the ROE to jump to 24.0% vs 23.1% YoY.


Bajaj Finance: Strong Q1FY24 Earnings - Guidance Upgraded

<ul>
<li>BAF reported strong Q4FY22 earnings led by 1) healthy AUM growth and 2) decline in provisioning. YoY, the NIM growth was similar to the AUM growth suggesting no margin compression.</li>
<li>However, QoQ, BAF witnessed NIM compression, partly driven by interest reversal from a corporate account that became NPA. Overall, the management is confident of maintaining NIMs at current level. </li>
<li>The pace of core AUM growth also declined QoQ. However, this could be due to seasonality and despite declining pace, Q4FY22 core AUM growth was still healthy at 5%+.</li>
</ul>


BAF reported strong Q4FY22 earnings led by 1) healthy AUM growth and 2) decline in provisioning. YoY, the NIM growth was similar to the AUM growth suggesting no margin compression.
However, QoQ, BAF witnessed NIM compression, partly driven by interest reversal from a corporate account that became NPA. Overall, the management is confident of maintaining NIMs at current level. 
The pace of core AUM growth also declined QoQ. However, this could be due to seasonality and despite declining pace, Q4FY22 core AUM growth was still healthy at 5%+.


Bajaj Finance (BAF): Back to Pre-COVID Like Stellar Performance!

India

Maharashtra Scooters Ltd manufactures automobile parts and equipment. The Company offers pressure die casting dies, jigs, and fixture products for two and three wheeler industry.

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Maharashtra Scooters (MHSC IN)

Event Driven: Special Call Auction in Indian Holding Companies

BSE & NSE to hold special call auction on Oct 28, 2024 for Investment Holding Companies, 8-9 eligible, 3 with over 100% upside potential.

Nimish Maheshwari

Unlocking Value: SEBI's New Special Call Auction Mechanism Explained

SEBI's SPECIAL CALL AUCTION framework aims to unlock value for listed holding companies by ensuring fair trading prices, with the first auction...

Nimish Maheshwari

Bajaj Finance (BAF): Strengthening Franchise to Sustain Growth Longevity

BAF is doing all the right things to continue to strengthen its franchise to sustain high growth for a prolonged period. An investment at the...

Ankit Agrawal, CFA

Bajaj Finance: Strong Q1FY24 Earnings - Guidance Upgraded

BAF reported a strong Q1FY24 with record AUM growth and customer acquisition, leading it to upgrade its FY24 guidance. At current valuation, BAF...

Ankit Agrawal, CFA

Bajaj Finance (BAF): Back to Pre-COVID Like Stellar Performance!

BAF reported stellar Q4FY22 earnings led by growing AUM and declining provisions. As per our estimates, an investment in BAF's stock presents an...

Ankit Agrawal, CFA

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Event Driven: Special Call Auction in Indian Holding Companies

​BSE & NSE to hold special call auction on Oct 28, 2024 for Investment Holding Companies, 8-9 eligible, 3 with over 100% upside potential.

Nimish Maheshwari

Unlocking Value: SEBI's New Special Call Auction Mechanism Explained

​SEBI's SPECIAL CALL AUCTION framework aims to unlock value for listed holding companies by ensuring fair trading prices, with the first auction...

Nimish Maheshwari

Bajaj Finance (BAF): Strengthening Franchise to Sustain Growth Longevity

BAF is doing all the right things to continue to strengthen its franchise to sustain high growth for a prolonged period. An investment at the...

Ankit Agrawal, CFA

Bajaj Finance: Strong Q1FY24 Earnings - Guidance Upgraded

BAF reported a strong Q1FY24 with record AUM growth and customer acquisition, leading it to upgrade its FY24 guidance. At current valuation, BAF...

Ankit Agrawal, CFA

Bajaj Finance (BAF): Back to Pre-COVID Like Stellar Performance!

BAF reported stellar Q4FY22 earnings led by growing AUM and declining provisions. As per our estimates, an investment in BAF's stock presents an...

Ankit Agrawal, CFA

BSE & NSE to hold special call auction on Oct 28, 2024 for Investment Holding Companies, 8-9 eligible, 3 with over 100% upside potential.

SEBI's SPECIAL CALL AUCTION framework aims to unlock value for listed holding companies by ensuring fair trading prices, with the first auction...