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>India’s ethanol blending policy is a long-term growth driver, supporting energy security and reducing oil imports, backed by strong government initiatives and infrastructure development.</li>
<li>Significant investment in ethanol production infrastructure and feedstock diversification will be crucial to meeting the 30% blending target by 2030, creating a sustainable and scalable ethanol market.</li>
<li>The focus on second-generation biofuels, flex-fuel vehicles, and sustainable feedstocks will position India as a global leader in ethanol use, driving economic and environmental benefits.</li>
</ul>


India’s ethanol blending policy is a long-term growth driver, supporting energy security and reducing oil imports, backed by strong government initiatives and infrastructure development.
Significant investment in ethanol production infrastructure and feedstock diversification will be crucial to meeting the 30% blending target by 2030, creating a sustainable and scalable ethanol market.
The focus on second-generation biofuels, flex-fuel vehicles, and sustainable feedstocks will position India as a global leader in ethanol use, driving economic and environmental benefits.


Ethanol 30% Blending: Green Energy Gains, Feedstock Shifts, and What’s Ahead for India’s Ethanol

Forensic Accounting

Gensol Engineering Limited provides renewable energy project development services. The Company constructs solar plants. Gensol Engineering serves customers in India.

<ul>
<li>The Mahadev Betting Scam exposed the infiltration of illegal gambling money into the stock market, manipulating small-cap stocks through offshore shell companies and pump-and-dump strategies.</li>
<li>This scandal demonstrates how vulnerable markets are to operator-driven speculation, leading to artificial stock price surges, which mislead investors and undermine market integrity, creating systemic risks.</li>
<li>The episode emphasizes the need for heightened due diligence, transparency, and scrutiny of foreign portfolio investors, encouraging investors to be more cautious of unexplained stock movements and shell company involvement.</li>
</ul>


The Mahadev Betting Scam exposed the infiltration of illegal gambling money into the stock market, manipulating small-cap stocks through offshore shell companies and pump-and-dump strategies.
This scandal demonstrates how vulnerable markets are to operator-driven speculation, leading to artificial stock price surges, which mislead investors and undermine market integrity, creating systemic risks.
The episode emphasizes the need for heightened due diligence, transparency, and scrutiny of foreign portfolio investors, encouraging investors to be more cautious of unexplained stock movements and shell company involvement.


Event-Driven

Jubilant Agri and Consumer Products / Event-Driven

Jubilant Agri and Consumer Products Limited provides industrial, agricultural, and other consumer products. The Company offers synthetic latex, food polymer, fertilizer, adhesives, and wood finishes for both residential and commercial use. Jubilant Agri and Consumer Products serves customers worldwide.

Jubilant Agri and Consumer Products (JUBLCPL IN)

<ul>
<li>Separation of fertilizer division enables sharper valuation for adhesives, removing drag from losses and unlocking pure-play growth potential.</li>
<li>High growth with underpriced products; margin expansion likely as brand strength builds, closing gap with Pidilite and Jyoti Resins.</li>
<li>Once loss-making agri business now EBIT-positive; post-demerger focus may revive segment and surprise on valuations.</li>
</ul>


Separation of fertilizer division enables sharper valuation for adhesives, removing drag from losses and unlocking pure-play growth potential.
High growth with underpriced products; margin expansion likely as brand strength builds, closing gap with Pidilite and Jyoti Resins.
Once loss-making agri business now EBIT-positive; post-demerger focus may revive segment and surprise on valuations.


Event Driven: Jubilant Agri & Consumer Products Demerger- Next Value Creator from the Bhartia Group?

<ul>
<li>The paper industry is poised for gradual recovery by FY26, driven by strategic product diversification, integration, and acquisitions, with high-margin segments like tissue and packaging leading the way.</li>
<li>Despite cautious capex, companies focusing on inorganic growth and regional access via acquisitions, like ITC’s Century Pulp deal, will enhance market positioning.</li>
<li>As plantations mature, and anti-dumping measures take effect, the industry could stabilize by FY26, with integrated players gaining faster margin recovery.</li>
</ul>


The paper industry is poised for gradual recovery by FY26, driven by strategic product diversification, integration, and acquisitions, with high-margin segments like tissue and packaging leading the way.
Despite cautious capex, companies focusing on inorganic growth and regional access via acquisitions, like ITC’s Century Pulp deal, will enhance market positioning.
As plantations mature, and anti-dumping measures take effect, the industry could stabilize by FY26, with integrated players gaining faster margin recovery.


Thematic Report: Indian Paper Industry- Low Margin, China Dumping, Capex

Aster DM Healthcare Limited provides health care services. The Company offers cardiology, cardiac and spine surgery, oncology, orthopedics, neurology and urology, oncology, gastroenterology and hepatology services. Aster DM Healthcare serves patients worldwide.

<ul>
<li>
<a href="https://www.smartkarma.com/entities/aster-dm-healthcare-ltd" target="_blank" data-smartkarma-citation="entities:23662:1" rel="noopener">Aster DM Healthcare Ltd (ASTERDM IN)</a> and Quality Care India are merging to form India's third-largest hospital chain with over 10,150 beds. </li>
<li>This merger combines two major players, generating significant scale, diversification, and financial strength. The merged entity will benefit from  synergies and plans to expand to over 13,000 beds by FY27.</li>
<li>The merged entity is expected to be EPS accretive and expected to increase EBITDA by 10-15% through synergies</li>
</ul>



Aster DM Healthcare Ltd (ASTERDM IN) and Quality Care India are merging to form India's third-largest hospital chain with over 10,150 beds. 
This merger combines two major players, generating significant scale, diversification, and financial strength. The merged entity will benefit from  synergies and plans to expand to over 13,000 beds by FY27.
The merged entity is expected to be EPS accretive and expected to increase EBITDA by 10-15% through synergies


Aster DM and Quality Care India: A Deep Dive into the Merger

Nimish Maheshwari, an independent analyst and co-founder of Beat The Street, is an investing platform garnering more than 1,00,000+ followers across social media. 
His deep insights and forensic analysis have been featured in some of India's most prominent publications, including the Economic Times, The Morning Context, The Ken,  Dalal Street Investment Journal, Moneylife by Sucheta Dalal, and TheCore.in.
He has a keen eye for identifying red flags in Indian listed companies and has identified exclusive red flags earlier in Adani, Vedanta, Nykaa, Gland Pharma, Brightcom Group etc.

Nimish Maheshwari
Market & Forensics Analyst
• Beat the Street

Ethanol 30% Blending: Green Energy Gains, Feedstock Shifts, and What’s Ahead for India’s Ethanol

India's ethanol blending policy is a key driver for energy security, reducing oil imports, and creating a sustainable ethanol market with strong...

Nimish Maheshwari

India's Biggest Small-Cap Shell Game

The Mahadev Betting Scam reveals the dangers of illegal gambling money infiltrating the stock market, manipulating small-cap stocks and creating...

Nimish Maheshwari

Event Driven: Jubilant Agri & Consumer Products Demerger- Next Value Creator from the Bhartia Group?

Separating fertilizer division boosts valuation for adhesives, poised for growth and margin expansion to compete with industry leaders.

Nimish Maheshwari

Thematic Report: Indian Paper Industry- Low Margin, China Dumping, Capex

The paper industry is expected to recover by FY26 through product diversification, acquisitions, and strategic growth, with high-margin segments...

Nimish Maheshwari

Aster DM and Quality Care India: A Deep Dive into the Merger

CCI approved the proposed merger of Quality Care India Limited (QCIL) into Aster DM Healthcare Limited (Aster). Post which Aster will be renamed as...

Nimish Maheshwari

Ethanol 30% Blending: Green Energy Gains, Feedstock Shifts, and What’s Ahead for India’s Ethanol

​India's ethanol blending policy is a key driver for energy security, reducing oil imports, and creating a sustainable ethanol market with strong...

Nimish Maheshwari

India's Biggest Small-Cap Shell Game

​The Mahadev Betting Scam reveals the dangers of illegal gambling money infiltrating the stock market, manipulating small-cap stocks and creating...

Nimish Maheshwari

Event Driven: Jubilant Agri & Consumer Products Demerger- Next Value Creator from the Bhartia Group?

​Separating fertilizer division boosts valuation for adhesives, poised for growth and margin expansion to compete with industry leaders.

Nimish Maheshwari

Thematic Report: Indian Paper Industry- Low Margin, China Dumping, Capex

​The paper industry is expected to recover by FY26 through product diversification, acquisitions, and strategic growth, with high-margin segments...

Nimish Maheshwari

Aster DM and Quality Care India: A Deep Dive into the Merger

CCI approved the proposed merger of Quality Care India Limited (QCIL) into Aster DM Healthcare Limited (Aster). Post which Aster will be renamed as...

Nimish Maheshwari

India's ethanol blending policy is a key driver for energy security, reducing oil imports, and creating a sustainable ethanol market with strong...

The Mahadev Betting Scam reveals the dangers of illegal gambling money infiltrating the stock market, manipulating small-cap stocks and creating...

Separating fertilizer division boosts valuation for adhesives, poised for growth and margin expansion to compete with industry leaders.

The paper industry is expected to recover by FY26 through product diversification, acquisitions, and strategic growth, with high-margin segments...